Modernizing Government Technology Reform Act

Removed the provision that would have amended the fund's annual appropriation from $250 million to $50 million and extended the funding period from fiscal years 2018-2019 to fiscal years 2024-2030. The engrossed version no longer modifies the appropriation level or timeframe in paragraph (4)(A).

Extended the fund's sunset date from December 31, 2030 to December 31, 2031, giving the fund one additional year of operation.

Added a senior official from CISA (Cybersecurity and Infrastructure Security Agency) as a board member, appointed by the CISA Director with OMB approval, expanding the board's composition.

Changed the board's project selection criterion from 'the greatest Governmentwide impact' to 'the greatest impact on modernizing, retiring, or replacing Federal legacy information technology systems,' narrowing the focus of fund allocations.

Added a new board selection criterion requiring consideration of 'the ability for the head of the agency to ensure repayment of funds transferred from the Fund,' making repayment capacity a factor in project selection.

Changed the annual reporting requirement from reporting 'cost savings associated with the projects funded both annually and over the life of the acquired products and services' to reporting 'the amount repaid to the Fund in accordance with the terms established in the written agreements,' shifting accountability from projected savings to actual repayments.

Added language requiring reports to include 'the identification of fraudulent or misleading statements about the project (including fraudulent statements about technical design, the business case, or program management with respect to the project)' in the application or proposal.

Replaced references to 'the solvency of the Fund, including operating expenses' throughout with more specific language: 'total amounts in the Fund are no less than the amounts needed to keep the Fund operational until the Fund sunsets pursuant to subsection (g)(1).'

Simplified board composition language to specify exactly 4 employees of the Federal Government with technical expertise in IT development, financial management, cybersecurity and privacy, and acquisition, appointed by the Director.