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Standard Summary
Comprehensive overview in 1-2 paragraphs
S. 1160 (LEDGER Act) requires the Treasury to implement a system that tracks all federal outlays by fund account, ensuring traceability of expenditures.
Key Points
- 1Amends Title 31 to add a new section requiring the Treasury to track all outlays from each appropriation, receipt, or other fund account.
- 2The system must be implemented within 180 days of enactment.
- 3Provides a conforming amendment to the table of sections in Title 31.
Impact Areas
Treasury Department and its expenditure tracking systems.Federal agencies and their financial management.Congressional oversight and audit functions.
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