S.2916 - Guaranteeing Real Accountability in Federal Transactions Act

A bill to ensure greater transparency in the Federal contracting process, and to help prevent contractors that violate criminal laws from obtaining Federal contracts. view all titles (2)

All Bill Titles

  • Short: Guaranteeing Real Accountability in Federal Transactions Act as introduced.
  • Official: A bill to ensure greater transparency in the Federal contracting process, and to help prevent contractors that violate criminal laws from obtaining Federal contracts. as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
04/24/08
 
 
 
 
 
 
 

Official Summary

Guaranteeing Real Accountability in Federal Transactions Act - Requires a government contractor that has reasonable grounds to believe it has violated a criminal law or received a significant overpayment in connection with the award or performance of a covered contract to notify the Office

Official Summary

Guaranteeing Real Accountability in Federal Transactions Act - Requires a government contractor that has reasonable grounds to believe it has violated a criminal law or received a significant overpayment in connection with the award or performance of a covered contract to notify the Office of Inspector General of the awarding executive agency within 14 days of becoming aware of the violation or overpayment. Provides for debarment or suspension for knowingly failing to notify.Defines a \"covered contract\" as one for more than $1 million. Requires reported violations and overpayments to be listed on the searchable website established and maintained under the Federal Funding Accountability and Transparency Act of 2006.Requires the Director of the Office of Management and Budget (OMB) to report to Congress annually on such violations and overpayments.Prohibits covered contractors from prohibiting or restricting persons from engaging in actions for which a protection against reprisal is provided under the Federal Property and Administrative Services Act of 1949. Makes provisions of a covered contract or a contract between a covered contractor and an employee performing work under such contract that limit or restrain an individual from engaging in such actions invalid and void.

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