; and (4) to strengthen oversight and management of Federal grants and cooperative agreements by agencies by consolidating the collection and display of and access to open data that has been standardized and, where appropriate, increasing transparency to the public. 3. Definitions In this Act, the terms agency , Director , Federal award , and Secretary have the meanings given those terms in section 6401 of title 31, United States Code, as added by section 4(a) of this Act. 4. Data standards for grant reporting (a) Amendment Subtitle V of title 31, United States Code, is amended by inserting after chapter 63 the following: 64 Data standards for grant reporting Sec. 6401. Definitions. 6402. Data standards for grant reporting. 6403. Guidance applying data standards for grant reporting. 6404. Agency requirements. 6401. Definitions In this chapter: (1) Agency The term agency has the meaning given the term in section 552(f) of title 5. (2) Core data elements The term core data elements means data elements that— (A) are not program-specific in nature; and (B) are required by agencies for all or the vast majority of Federal grant and cooperative assistance recipients for purposes of reporting. (3) Director The term Director means the Director of the Office of Management and Budget. (4) Executive department The term Executive department has the meaning given the term in section 101 of title 5. (5) Federal award The term Federal award — (A) means the transfer of anything of value for a public purpose of support or stimulation authorized by a law of the United States, including financial assistance and Government facilities, services, and property; (B) includes a Federal grant, subgrant, award, or cooperative agreement; and (C) does not include— (i) conventional public information services or procurement of property or services for the direct benefit or use of the Government; or (ii) an agreement that provides only— (I) direct Government cash assistance to an individual; (II) a subsidy; (III) a loan; (IV) a loan guarantee