Federal Subaward Reporting System Modernization and Expansion Act

This bill updates federal reporting requirements for subawards (funds given by a recipient of federal funding to another entity). It directly affects federal agencies and recipients of federal awards (like universities, nonprofits, and contractors) by requiring them to track and report second-tier subawards (sub-sub-recipients) starting in 2025. Key provisions include standardizing reporting across agencies, reducing paperwork burden through simplified certifications for no-subaward cases, and improving public access to subaward data. The bill mandates annual progress reports to Congress and requires agencies to implement changes within two years of enactment.