Joint Funding Simplification Act

Joint Funding Simplification Act - Allows the heads of Federal agencies to take action, by internal agency order or interagency agreement, including but not limited to: (1) identification of related programs appropriate for providing joint support for specific projects; (2) development of guidelines to assist in the planning and development of projects drawing support from different programs; (3) review of administrative requirements with a view to modifying these to allow joint support of projects; (4) establishment of common rules among related programs; and (5) creation of joint supervision procedures.

Requires that application processing assure: (1) that reviews and approvals are handled expeditiously; (2) that full account is taken of any special considerations of timing that are made known by the applicant that would affect the feasibility of a jointly funded project; (3) a minimum number of Federal representatives are involved; (4) that applicants are promptly informed of decisions; and (5) that the applicant need not get information for one agency about another that would best be handled by interagency communications.

Allows the agencies to establish uniform technical or administrative requirements with respect to accounting, auditing, timing of Federal payments, forms of assistance, and accountability for property. Permits a review by one board for all agencies rather than one per agency. Allows agencies to delegate certain powers to other agencies to better carry out this Act. Provides for the establishment of joint management fund for these projects.