The TRACKS Act requires federal grant recipients to report when they pass money to subcontractors or other entities located in countries of concern, as defined under existing national defense law. Currently, federal funding is tracked through a public transparency database, but there is no requirement to report subawards flowing to foreign entities. This bill closes that gap by mandating that any organization receiving a federal award must disclose if they pass that funding to subrecipients in adversarial countries. The bill affects all federal contractors, universities, nonprofits, and other organizations that receive federal grants and may use subcontractors abroad. The Office of Management and Budget director must issue guidance within 90 days of the law's enactment to establish consistent reporting standards and definitions across federal agencies.