Amends title 41 of the United States Code to protect federal funds from individuals convicted of certain federal felonies.
Establishes a prohibition on individuals convicted of covered felonies from being eligible for federal contracts, grants, and other financial assistance.
Requires the Attorney General to notify the Administrator of General Services of any convictions, leading to a three-year exclusion from the System for Award Management.
Allows agency heads to grant waivers from the prohibition if deemed warranted, with a requirement to notify Congress of such exemptions.
Defines key terms, including “agency,” “convicted,” and “covered felony,” specifying the felonies that fall under this legislation.
Clarifies that the legislation does not limit other criminal, civil, or administrative actions to protect federal interests.
Mandates the issuance of guidance by the Attorney General, in consultation with the Administrator of General Services, within one year of enactment to ensure compliance with the new requirements.
