H.R. 8466 — TRUE Accountability Act

This section establishes requirements for financial and administrative controls for emergency spending (i.e., supplemental appropriations for disasters, pandemics, economic relief, or similar) by adding new section 3359 to subchapter IV of chapter 33, title 31, U.S. Code. Directs the OMB Director to issue guidance to covered agencies (i.e., major federal agencies listed in 31 U.S.C. 901(b)) within 180 days of enactment—and review and update every 3 years thereafter—for developing internal control plans ready for immediate use in such emergencies. The guidance must incorporate specified GAO frameworks on managing improper payments and fraud risks; designate a senior agency official responsible for plan implementation; and require policies and procedures to (1) assess improper payment and fraud risks (including financial loss evaluations and risk tolerances) for any related supplemental funding; (2) implement pre-expenditure mitigation strategies; and (3) apply real-time, data-driven monitoring techniques (e.g., anomaly detection, volume plausibility checks, network analysis). (Thus, agencies must prepare controls in advance to minimize fraud in emergency programs, which often face compressed timelines.) Requires covered agency heads to submit initial plans to OMB within 1 year of enactment, review and revise them every 3 years, and submit revisions to OMB; directs OMB to assemble the plans with a summary—including harmonization actions and legislative recommendations—and submit them to the Senate Committee on Homeland Security and Governmental Affairs and the House Committee on Oversight and Accountability within 15 months of enactment and annually thereafter. Makes a conforming amendment to the table of sections for chapter 33, title 31, U.S. Code, and authorizes no additional funds.