OMB Floats Smoother Rules For $600B In US Grants

Law360, New York (February 28, 2012, 5:09 PM EST) -- The Office of Management and Budget on Tuesday proposed streamlined rules for the $600 billion spent every year on federal grants, including limiting some audit requirements to recipients getting at least $1 million and making it easier to fund cloud-computing centers.

The proposals grew out of a move by the Obama administration to cut government red tape and more tightly focus grant policies on eliminating waste, fraud and abuse. The OMB in October created a Council on Financial Assistance Reform, with representatives from the largest federal...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.