The Our Money in China Transparency Act would require the federal government to provide annual reports detailing all federal funding flowing to China and Chinese entities, as well as spending on U.S.-China collaborative projects. The bill affects all federal agencies and departments, which would need to report funding amounts to the Chinese government, Chinese Communist Party, Chinese companies, Chinese citizens living in China, and U.S. institutions with campuses in China, broken down by specific recipient. The reports would also track federal money spent on joint U.S.-China initiatives and funds used to support federal employees working on projects in China. Each department and the Office of Management and Budget would submit these reports alongside annual budget submissions to Congress, and the first report would cover the previous ten fiscal years of spending to provide historical context.