Federal Grants Act

[AI summary unavailable — showing source text] Federal Grants Act - Expresses the finding of Congress that there is a need to distinguish between procurement and grant-type assistance transactions and to standardize usage of the legal instruments reflecting such transactions. Sets forth the definitions of terms used in this Act. Provides that executive agencies shall use a contract as the legal instrument reflecting an agreement between the Federal Government and one or more States, political subdivisions, or persons, the principal purpose of which is the acquisition of property or services by purchase, lease, or barter for the direct use or benefit of the Government. Prescribes the circumstances under which grants shall be used as the legal instrument. States that each executive agency authorized to enter into arrangements to accomplish a public purpose under a Federal statute is authorized in lieu of the instrument specified by any other provision of law, to enter into contracts, grants, or cooperative agreements as required by this Act.…