FINANCE-ST AGENCY GRANT MAKING

Amends the Grant Accountability and Transparency Act. Modifies a Section concerning the adoption of federal rules applicable to grants and provides that specified provisions do not apply to for-profit subrecipients because for-profit subrecipients are not subject to the requirements of a specified provision of the Code of Federal Regulations. Provides that if a Program Audit Guide is not available, the State awarding agency must prepare a Program Audit Guide in accordance with the audit requirements of specified provisions of the Code of Federal Regulations. Requires the Governor's Office of Management and Budget to adopt supplemental rules pertaining to, among other subjects, specific conditions for individual recipients, including (rather than requiring) the use of a fiscal agent and additional corrective conditions. Applies provisions in the Code of Federal Regulations concerning federal agencies that make federal awards to non-federal entities to State grant-making agencies under the Act. Provides that the Grant Accountability and Transparency Unit shall be responsible for providing technical assistance and assuring the Administrative Code proposed by State grant agencies comply with the Act. Repeals the Section specifying a repeal date for the Act. Makes other changes.