S. 2680: Financial Accountability Expansion Act of 2004
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S. 2680: Financial Accountability Expansion Act of 2004
108th Congress · introduced 2004-07-16 · Government Operations and Politics · Latest: Sponsor introductory remarks on measure. (CR S8747)
federal
Follow this bill, step by step
- Where it came from: introduced 2004-07-16 · official record
- Who proposed it: Sen. Fitzgerald, Peter [R-IL] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Sponsor introductory remarks on measure. (CR S8747) Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Financial Accountability Expansion Act of 2004
Plain summary
Financial Accountability Expansion Act of 2004 - Amends Federal law governing financial statements of Federal agencies to: (1) repeal the authority of the Director of the Office of Management and Budget (OMB) to exempt certain executive small-sized executive agencies from submitting annual financial statements; and (2) instruct OMB to notify the Secretary of the Treasury (Secretary) which executive agencies have size or budgetary limitations that do not support the internal preparation of a mandated financial statement. Directs the Secretary to: (1) prepare such financial statements or contract for their preparation; and (2) contract with independent auditors to audit them. Amends the Accountability of Tax Dollars Act of 2002 to make technical and conforming amendments to reflect this Act. Directs OMB to require each Federal entity that is not currently required to prepare an independently audited annual financial statement to submit one prepared in accordance with generally accepted auditing principles.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
Financial Accountability Expansion Act of 2004
Source: Congressional Research Service summary (Introduced in Senate)
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Fitzgerald, Peter [R-IL] · 1 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-108s2680.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/108/s>
Record fed-us-cong108-s2680 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108