Truth in Financing Act - Disqualifies any recipient of Federal funds from Federal funding of any type if, at a time when the recipient is receiving Federal funds for any of the recipient's activities, the recipient is found by any Federal agency or Federal or State court to have: (1) made a false statement on an application for Federal funds; (2) violated any Federal law or regulation or State or local law punishable by imprisonment for at least 6 months or a fine of at least $5,000; and (3) aided or abetted the violation of any law or regulation described in clause (2).Permits any U.S. citizen to bring a private cause of action against any organization receiving Federal funds for any violation of the above.
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