Federal Funding Accountability and Transparency Act
The Federal Funding Accountability and Transparency Act (FFAT Act) of 2006 requires the full disclosure on a government website of all entities receiving federal funding, beginning in (FY) 2007. On April 6, 2006, this bill was introduced by Senators Tom Coburn and Barack Obama and after secret holds on the bill by Senators Ted Stevens and Robert Byrd were exposed. and withdrawn, the bill passed unanimously in the Senate on September 7, 2006. It then passed in the House on September 13, 2006 and was signed into law on September 26, 2006 by President George W. Bush.
The website containing these disclosures is to be maintained by the Office of Management and Budget.