financial disclosure requirements for certain recipients of federal awards

financial disclosure requirements for certain recipients of federal awardsSec. 6202. (a) Disclosure Requirements.—Section 2(b)(1) of the Federal Funding Accountability and Transparency Act (Public Law 109–282; 31 U.S.C. 6101 note) is amended—(1) by striking “and” at the end of subparagraph (E);(2) by redesignating subparagraph (F) as subparagraph (G); and(3) by inserting after subparagraph (E) the following new subparagraph:“(F) the names and total compensation of the five most highly compensated officers of the entity if—“(i) the entity in the preceding fiscal year received—“(I) 80 percent or more of its annual gross revenues in Federal awards; and“(II) $25,000,000 or more in annual gross revenues from Federal awards; and“(ii) the public does not have access to information about the compensation of the senior executives of the entity through periodic reports filed under section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d)) or section 6104 of the Internal Revenue Code of 1986.”.(b) Regulations Required.—The Director of the Office of Management and Budget shall promulgate regulations to implement the amendment made by this chapter. Such regulations shall include a definition of “total compensation” that is consistent with regulations of the Securities and Exchange Commission at section 402 of part 229 of title 17 of the Code of Federal Regulations (or any subsequent regulation).