The bill mandates that all applications for federal financial assistance submitted by state agencies must undergo a legislative review process before they can be sent to the federal government. Specifically, if the legislature is in session, the application must be presented as a proposed joint resolution for legislative approval. If the legislature is not in session, the application must first be reviewed by the energy and telecommunications interim committee, which will then poll the legislature to determine if there is concurrence with the application. This process ensures that the legislature has oversight over federal funding requests made by state agencies.

Additionally, the bill establishes reporting requirements for executive agencies that have submitted applications for federal assistance. Each agency must provide a report to the legislature and the governor by September 1 of each even-numbered year, detailing information such as the requesting agency, the amount requested, and the outcomes of the legislative review process. This report must be submitted electronically and also provided to newly elected legislators by December 31 of the same year. The new sections introduced by this bill are intended to be integrated into Title 17, chapter 3 of the Montana Code.