Requires every federal agency to inventory all software it owns and uses, then create a CIO‑led plan to modernize, consolidate licenses, cut waste, and centralize approval of new software. The Office of Management and Budget (OMB) and the General Services Administration (GSA) will share best practices and coordinate common processes across government.

Agencies must finish the assessment in 18 months and submit modernization plans within a year. OMB must deliver a government‑wide procurement report within two years, and the Comptroller General (GAO) must report to Congress on progress within three years. The Act does not authorize new funding; agencies must use existing resources.