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Three-Year Ban on Federal Funds for Convicted Fraudsters.

This law aims to protect taxpayer money by tightening rules for accessing federal funds. It establishes a mandatory three-year ban on receiving federal contracts, grants, and loans for individuals convicted of serious financial fraud related to government programs. This measure is intended to ensure greater integrity in public spending and reduce the risk of waste.
Key points
Individuals convicted of serious financial felonies involving federal funds (grants, loans, contracts) will be automatically banned from receiving new federal awards for three years.
The ban covers a wide range of offenses, including making false statements, theft of public funds, and money laundering.
Government agencies can waive the ban in exceptional, written cases, but must immediately notify Congress of the decision.
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Additional Information
Print number: 118_HR_9992
Sponsor: Rep. Self, Keith [R-TX-3]
Process start date: 2024-10-15