Federal Funding Accountability and Transparency Act of 2006
“ Exception— Any entity that demonstrates to the Director of the Office of Management and Budget that the gross income, from all sources, for such entity did not exceed $300,000 in the previous tax year of such entity shall be exempt from the requirement to report subawards under subsection (d) , until the Director determines that the imposition of such reporting requirements will not cause an undue burden on such entities. ”
