H.R. 9040 would require federal agencies to develop strategies for shifting financial risks related to government credit, loan guarantees, and insurance programs to private companies. Agencies managing these programs would have 12 months to submit plans to the Office of Management and Budget identifying barriers to transferring risk to the private sector and explaining how they would overcome those barriers, with the plans updated every five years afterward. The bill establishes that any risk transfers must occur at market rates, be transparent, and not increase costs to individual borrowers or beneficiaries. Agencies would be required to ensure private companies managing transferred risks submit regular reports on claims, while the Office of Management and Budget would report to Congress every 18 months on the total risks transferred, associated costs and savings, and recommendations for expanding these programs. The bill excludes the Social Security Administration and Medicare from these requirements.