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Standard Summary
Comprehensive overview in 1-2 paragraphs
The TRACKS Act requires tracking and reporting of federal subawards to adversarial countries and foreign entities of concern to improve transparency of taxpayer dollars.
Key Points
- 1Amends Federal Funding Accountability and Transparency Act to require reporting of foreign subawards
- 2Defines covered subawards to entities in countries of concern
- 3Requires disclosure of subawards to foreign countries and entities of concern
- 4Mandates guidance from the Director of the Office of Management and Budget
- 5Applies to all federal prime award recipients
- 6Includes both countries of concern and foreign entities of concern as defined in defense authorization acts
Impact Areas
Federal contracting and grant recipientsInternational recipients in adversarial countriesFederal transparency and accountabilityNational securityOversight and compliance
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