DATA Act (2014)
Digital Accountability and Transparency Act of 2014 (DATA Act)
The Digital Accountability and Transparency Act of 2014, also called the DATA Act, expands on federal awards reporting reforms that began with the Federal Funding Accountability and Transparency Act of 2006.
The purpose of the DATA Act is to improve the quality and transparency of the Federal Government's award data. Lawmakers have directed the Department of the Treasury (Treasury) and the Office of Management and Budget (OMB) to create government-wide standards for reporting spending data associated with Federal awards. The law also requires that this data be channeled to a central, public database so that it can be easily accessed and tracked throughout an award's full lifespan – from a vote in Congress to its final disbursement.
The DATA Act was implemented in stages, beginning with the guidance issued by OMB in 2015. With the completion of the pilot program in 2017, agencies and award recipients are required to adhere to the new data sharing standards.