The federal budget office must publish yearly reports for Congress and the public on major project delays or cost overruns, excluding projects funded through direct spending.
Annual public reports must cover agency-funded projects more than five years late or with spending at least $1 billion above original estimates, excluding projects funded through direct spending.
Agencies must submit project information yearly. The Office of Management and Budget must send Congress an annual report and publish it online. The requirements cover time-limited projects funded by executive agencies and independent regulatory agencies, including purchases, construction, and cleanup work. The delay is measured against the original expected completion date. The cost threshold uses money already spent. Direct spending is an excluded funding category defined by reference to another federal budget law. The budget office must issue guidance requiring yearly agency submissions within one year of enactment.
No hearings or votes scheduled.