MGT Act

[AI summary unavailable — showing source text] Modernizing Government Technology Act of 2017 or the MGT Act This bill authorizes each of specified agencies for which there are Chief Financial Officers to establish an information technology system modernization and working capital fund to: improve, retire, or replace existing information technology systems to enhance cybersecurity and to improve efficiency and effectiveness; transition legacy information technology systems to cloud computing and other innovative platforms and technologies; assist and support efforts to provide adequate, risk-based, and cost-effective information technology capabilities that address evolving threats to information security; and reimburse amounts transferred to the agency from the Technology Modernization Fund (established under this bill), with the approval of such agency's Chief Information Officer. Each agency shall prioritize amounts within such fund to be used initially for approved cost savings activities. The bill establishes a Technology Modernization Fund for technology related activities, to improve information technology, and to enhance cybersecurity across the federal government. The fund shall be administered by the Commissioner …