S. 1434 — TRACKS Act

This section amends the Federal Funding Accountability and Transparency Act of 2006 by (1) adding to subsection (a) a definition of "subaward" as an award (e.g., grant, contract) by a pass-through entity to a subrecipient to carry out part of a federal award, including multi-tier subawards but excluding payments to beneficiaries; and (2) adding to subsection (d) a requirement for recipients of "covered subawards"—i.e., subawards of any amount to an entity located in a foreign country of concern or to a foreign entity of concern (both as defined in 15 U.S.C. 4651)—to disclose them in the same manner as other subawards under paragraph (2), with the Director of the Office of Management and Budget to issue implementing guidance within 90 days of enactment.