On Sept. 28, President Bush signed into law the Federal Funding Accountability and Transparency Act of 2006. Sponsored by Republican Sen. Tom Coburn of Oklahoma and Democratic Sens. Thomas Carper of Delaware and Barack Obama of Illinois, the legislation has important implications for grant-seekers.

Aiming to make federal funding more transparent, the new law will "create a web site that will list the federal government's grants and contracts, accessible by every citizen in the country." Besides making the federal government more accountable to taxpayers, this online funding database is likely to be a significant resource for schools.

According to a...

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