Bill > HR1722

This bill requires the Director of the Office of Management and Budget (OMB) to create an annual reporting system for large, problematic government projects. Specifically, the bill defines a "covered project" as any government project that is either more than 5 years behind schedule or has exceeded its original budget by at least $1 billion. The bill applies to both executive agencies and independent regulatory agencies, and covers a wide range of project types including major acquisitions, defense programs, procurements, construction projects, and remediation efforts. Each year, covered agencies must submit detailed information about their covered projects, including project purpose, location, contractors, original and current completion dates, original and current cost estimates, explanations for delays or cost increases, and details about any performance bonuses awarded. The Director of OMB must then compile this information into an annual report that will be submitted to Congress and published on the OMB website, providing transparency about government projects that are significantly over budget or behind schedule.

Government Affairs

https://www.congress.gov/bill/119th-congress/house-bill/1722/all-info