The bill requires the submission of a quarterly report detailing the status of federal funds applied for, received, and expended by various agencies, specifically for the second quarter of Fiscal Year 2025. The report includes information on pending grants, such as the FHWA-Recreational Trails Program and various USDA Forest Service grants, with a total pending amount of $14,487,236.67. Additionally, the report outlines new federal grants received and expended, totaling $538,357,310.40, with specific amounts awarded and expended for various programs, including emergency management and environmental initiatives.

New legal language has been inserted into the current law, including statements that the report does not reflect grants that were rejected and the addition of specific grant names and amounts. The report also emphasizes the Comptroller's reporting requirements under M.G.L. Chapter 29, Section 6B, and directs questions regarding grant applications to agency CFOs. Overall, the bill aims to enhance transparency and accountability in the management of federal funds at the state level.