Transparency and Accountability in State and Local Contracting Act - Amends the American Recovery and Reinvestment Act of 2009 to: (1) require (current law authorizes) federal agencies receiving funds under the Act to adjust applicable limits on administrative expenditures for federal awards to help award recipients defray the costs of data collection requirements initiated pursuant to the Act; and (2) authorize such agencies to set aside up to 0.5% of covered funds directed to such agencies to conduct comprehensive, agency-wide oversight and administration of projects under the Act.
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