Directs the Council of the Inspectors General on Integrity and Efficiency to submit to Congress and the head of each federal agency a report that: (1) lists each covered grant account held by the federal government, (2) recommends which of such grants should be immediately closed, and (3) explains why any covered grant account that has been expired for more than 90 days has not been closed out. Requires each federal agency head that manages a covered grant account recommended for closure in such report to close such account not later than 180 days after the report is submitted.

Defines "covered grant account" as a grant account in a federal agency payment management system that has a zero balance for more than 180 days and for which the grant award period has expired. 

(Sec. 2) This bill requires the Office of Management and Budget to instruct each agency, in coordination with the Department of Health and Human Services (HHS), to submit to Congress and HHS by December 31 of the first calendar year beginning after this Act's enactment a report that:

• lists each covered grant held by the federal government;
• recommends which of such grants should be closed; and
• explains why any such grant has not been closed out.

If an agency is unable to submit all of such information, the report shall include an explanation of why the information was not available, including any shortcomings with existing grant data systems.

Each agency: (1) within one year after submitting such report, shall provide notice to HHS specifying whether it has closed out grant awards associated with all covered grants; and (2) within 90 days after providing such notice to HHS, shall provide the same notice to Congress.

The term "covered grant" is defined as a grant in a federal agency cash payment management system held by the federal government for which: (1) the grant award period of performance has been expired for at least two years, and (2) close out has not yet occurred.

(Sec. 2) This bill requires the Office of Management and Budget to instruct each agency, in coordination with the Department of Health and Human Services (HHS), to submit to Congress and HHS by December 31 of the first calendar year beginning after this Act's enactment a report that:

• lists each federal grant award held by such agency;
• provides the total number of federal grant awards, including the number of grants by time period of expiration, the number with zero dollar balances, and the number with undisbursed balances;
• describes the challenges leading to delays in grant closeout; and
• explains, for the 30 oldest federal grant awards, why each has not been closed out.

If an agency head is unable to submit all of such information, the report shall include an explanation of why the information was not available, including any shortcomings with plans to improve existing grant systems, including data systems.

Each agency, within one year after submitting such report, shall provide notice to HHS specifying: (1) whether it has closed out all of the federal grant awards in the report, and (2) which awards have not been closed out. HHS, within 90 days after all of such notices have been provided or by March 31 of the calendar year following the first calendar year beginning after this Act's enactment, whichever is sooner, shall compile, and report to Congress on, such notices.

The Inspector General of an agency with more than $500 million in annual grant funding, within one year after such agency has provided such notice, shall conduct a risk assessment to determine if an audit or review of the agency's grant closeout process is warranted.

The OMB, within six months after the second such report on notices is submitted, shall report to Congress on recommendations for legislation to improve accountability and oversight in grants management, including the timely closeout of a federal grant award.

The bill defines "federal grant award" as a grant, including a cooperative agreement, in an agency cash payment management system held by the U.S. government for which: (1) the grant award period of performance has been expired for more than two years; and (2) closeout has not yet occurred.

Grants Oversight and New Efficiency Act or the GONE Act

(Sec. 2) This bill requires the Office of Management and Budget to instruct each agency, in coordination with the Department of Health and Human Services (HHS), to submit to Congress and HHS by December 31 of the first calendar year beginning after this Act's enactment a report that:

• lists each federal grant award held by such agency;
• provides the total number of federal grant awards, including the number of grants by time period of expiration, the number with zero dollar balances, and the number with undisbursed balances;
• describes the challenges leading to delays in grant closeout; and
• explains, for the 30 oldest federal grant awards, why each has not been closed out.

If an agency head is unable to submit all of such information, the report shall include an explanation of why the information was not available, including any shortcomings with and plans to improve existing grant systems, including data systems.

Each agency, within one year after submitting such report, shall provide notice to HHS specifying: (1) whether it has closed out all of the federal grant awards in the report, and (2) which awards have not been closed out. HHS, within 90 days after all of such notices have been provided or by March 31 of the calendar year following the first calendar year beginning after this Act's enactment, whichever is sooner, shall compile, and report to Congress on, such notices.

The Inspector General of an agency with more than $500 million in annual grant funding, within one year after such agency has provided the notice to Congress, shall conduct a risk assessment to determine if an audit or review of the agency's grant closeout process is warranted.

The OMB, within six months after the second such report on notices is submitted, shall report to Congress on recommendations for legislation to improve accountability and oversight in grants management, including the timely closeout of a federal grant award.

The bill defines "federal grant award" as a grant, including a cooperative agreement, in an agency cash payment management system held by the U.S. government for which: (1) the grant award period of performance has been expired for more than two years, and (2) closeout has not yet occurred.

Grants Oversight and New Efficiency Act or the GONE Act

(Sec. 2) This bill requires the Office of Management and Budget to instruct each agency, in coordination with the Department of Health and Human Services (HHS), to submit to Congress and HHS by December 31 of the first calendar year beginning after this Act's enactment a report that:

• lists each federal grant award held by such agency;
• provides the total number of federal grant awards, including the number of grants by time period of expiration, the number with zero dollar balances, and the number with undisbursed balances;
• describes the challenges leading to delays in grant closeout; and
• explains, for the 30 oldest federal grant awards, why each has not been closed out.

If an agency head is unable to submit all of such information, the report shall include an explanation of why the information was not available, including any shortcomings with and plans to improve existing grant systems, including data systems.

Each agency, within one year after submitting such report, shall provide notice to HHS specifying: (1) whether it has closed out all of the federal grant awards in the report, and (2) which awards have not been closed out. HHS, within 90 days after all of such notices have been provided or by March 31 of the calendar year following the first calendar year beginning after this Act's enactment, whichever is sooner, shall compile, and report to Congress on, such notices.

The Inspector General of an agency with more than $500 million in annual grant funding, within one year after such agency has provided the notice to Congress, shall conduct a risk assessment to determine if an audit or review of the agency's grant closeout process is warranted.

The OMB, within six months after the second such report on notices is submitted, shall report to Congress on recommendations for legislation to improve accountability and oversight in grants management, including the timely closeout of a federal grant award.

The bill defines "federal grant award" as a grant, including a cooperative agreement, in an agency cash payment management system held by the U.S. government for which: (1) the grant award period of performance has been expired for more than two years, and (2) closeout has not yet occurred.