Agency Accountability Act: New Rules for Federal Agency Spending
This act changes how federal agencies spend money from fees, fines, and settlements. Instead of direct use, these funds will go into the general Treasury fund and can only be spent after Congressional approval. This aims to increase oversight of agency spending and public financial transparency.
Key points
All fees, fines, and settlement proceeds collected by federal agencies (with some exceptions) must be deposited into the general Treasury fund.
Agencies will not be able to automatically spend these funds; their use will require separate Congressional appropriation.
Exceptions include loan guarantee programs, insurance programs, and whistleblower payments.
The act aims to increase Congressional oversight over how federal agencies manage their finances.
Status:
Expired
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