Prohibits federal agencies from contracting with, renewing contracts with, or giving grants or other federal financial assistance to people convicted of certain federal fraud-related felonies, or to entities they beneficially own, for three years after conviction.

• Applies to individuals convicted after the date of enactment, covering listed federal felonies tied to federal contracts, grants, loans, or other financial assistance
• Lets an agency waive the ban case by case if the agency head finds the waiver justifiable, with written notice to Congress immediately after
• Requires the Attorney General to notify the General Services Administrator of convictions, and the Administrator to add the individual to the System for Award Management Exclusions list
• Directs the Office of Management and Budget to issue implementing guidance within one year and the Federal Acquisition Regulation to be revised as necessary

• Oversight and Government Reform Committee (House)
• Homeland Security and Governmental Affairs Committee (Senate)

Government Operations and Politics