Federal Grant and Cooperative Agreement Act

[AI summary unavailable — showing source text] Federal Grant and Cooperative Agreement Act - States that it is the purpose of this Act to assure the existence of a clear distinction between Federal grant and cooperative agreement relationships, and Federal procurement relationships. Requires Federal agencies to use a form of procurement contract whenever acquiring property or services or whenever otherwise appropriate. Requires such agencies to use a form of grant agreement whenever transferring anything of value to the recipient to accomplish a public purpose and whenever no substantial involvement is anticipated between such agency and the recipient. Requires Federal agencies to use a form of cooperative agreement to transfer anything of value to a recipient to accomplish a public purpose whenever substantial involvement is anticipated between the agency and recipient. Authorizes each agency to make contracts for the conduct of scientific research at nonprofit institutions of higher education or at nonprofit scientific research organizations and to vest in the recipients title to equipment or other tangible property purchased with such contract funds. Directs the Director of the Office of Management and Budget to undertake a …