This regulation outlines the requirements for financial assistance awards, such as grants, cooperative agreements, and loans, that are funded under the American Recovery and Reinvestment Act of 2009 (Recovery Act), ensuring transparency and accountability in the use of these funds. It mandates that recipients report on the use of Recovery Act funds and maintain current registrations in the System for Award Management (SAM) to track expenditures accurately. Additionally, it imposes a "Buy American" requirement for construction projects, allowing exceptions only under specific conditions like nonavailability, unreasonable cost, or public interest, and aligns these requirements with international trade obligations.
Authority: American Recovery and Reinvestment Act of 2009, Public Law 111-5; Federal Funding Accountability and Transparency Act of 2006, (Pub. L. 109-282), as amended.