This bill would automatically bar individuals convicted of certain federal fraud and financial crimes from receiving federal contracts, grants, loans, and other financial assistance for three years following their conviction. The legislation targets specific felonies including wire fraud, mail fraud, bribery, theft of government property, and computer fraud that involve federal programs or agencies. The Attorney General would be required to notify the General Services Administration of convictions so they can be added to the System for Award Management Exclusions list, which tracks individuals and entities excluded from federal funding. Agency heads could waive the prohibition if they determine an exemption is warranted and report their decision to Congress. The Attorney General must issue implementation guidance within one year of the law's enactment.
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