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HR6483119th CongressWALLET
NeighborWorks Accountability Act
Sponsored By: Representative Walkinshaw, James R. [D-VA-11]
Introduced
Summary
Creates an Office of Inspector General for the Neighborhood Reinvestment Corporation to strengthen oversight and financial checks. This bill would authorize funding for that office and require annual external audits by certified public accountants while leaving the NRC's program work and grantee oversight with the agency.
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- NRC leadership and staff: Would be subject to new Inspector General oversight and have a separately funded OIG focused on audits and investigations.
- Program partners and grantees: Keeps the NRC responsible for program operations and grantee oversight by explicitly barring transfer of those duties to the OIG.
- Financial transparency and auditors: Requires annual external audits performed under generally accepted auditing standards by appropriately certified public accountants.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Oversight and audits for Neighborhood Reinvestment Corporation
This bill would add the Neighborhood Reinvestment Corporation to the federal Inspectors General system, making the corporation subject to OIG oversight. It would authorize appropriations of "such sums as may be necessary" to fund the corporation's Office of Inspector General, though Congress would still need to pass actual appropriations. The bill would require annual external audits of the corporation's accounts that follow generally accepted auditing standards and are done by certified public accountants. It would also bar the OIG from taking on the corporation's program operating duties, including organizational assessments and grantee oversight. These changes would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
Walkinshaw, James R. [D-VA-11]
VA • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov