This bill creates new rules to make federal government spending more transparent and to catch improper payments. Here's what it does in practical terms:

The main requirement is that whenever a federal agency makes a payment, it must provide basic information about that payment to the Treasury Department, including what the money is for, which budget account it comes from, and what type of activity it covers. This information then gets posted on a public website within 30 days so taxpayers can see where federal money is going. Agencies also have to verify once a year that the payment information they're reporting is accurate.

The bill also gives the Treasury Department new tools to prevent fraud and catch improper payments. It allows the Treasury to access information from Social Security, tax records, and a national database of new hires to identify people who shouldn't be receiving federal payments—like someone getting benefits they're not entitled to or someone who has already passed away. The Treasury can share this information with other federal agencies and state programs that distribute federal money to help them catch similar problems.

There are some exceptions built in: agencies don't have to publicly report payment details if doing so would compromise national security or law enforcement operations. Additionally, the bill includes protections so that federal employees making these payments can't be sued for following these new rules. Overall, the law aims to make federal spending easier to track and to reduce waste and fraud in government payments.