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Billion Dollar Boondoggle Act of 2023

Source: Congress.gov  ·  853 words in original text
This bill requires the Director of the Office of Management and Budget (the federal official who oversees government spending) to create rules for federal agencies. These agencies must report each year to Congress about major projects that are significantly over budget or delayed.
- The Director of the Office of Management and Budget - Executive agencies (departments and agencies in the federal government) - Independent regulatory agencies (government agencies that operate independently) - Congress
- The Director must issue guidance within one year requiring covered agencies to report annually on projects that are more than 5 years behind schedule or have spent at least $1 billion more than originally estimated (Sec. 2(b)) - Reports must include a description of each problem project with its purpose, location, contract number, when it started, federal funding amount, and primary contractors or grant recipients (Sec. 2(b)(1)) - Reports must explain any changes made to the original project scope and any delays or cost increases with reasons for them (Sec. 2(b)(2), (7)) - Reports must show the original expected completion date, current expected completion date, original cost estimate and current cost estimate (Sec. 2(b)(3), (4), (5), (6)) - Reports must disclose any awards, incentive fees or bonuses given for the project and explain why (Sec. 2(b)(8))
If this law passes, federal agencies will be required to publicly report each year on their biggest failed projects. Congress will receive detailed information about projects that are significantly delayed or over budget, including explanations for the problems and information about who is managing them.
- "Covered agency" means executive agencies and independent regulatory agencies - "Covered project" means a project funded by a covered agency that is more than 5 years behind schedule OR has cost at least $1 billion more than originally estimated - "Project" means a major acquisition, defense program, procurement, construction project, environmental cleanup, or other time-limited effort not funded through direct spending
Not specified in bill text
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.