Intergovernmental Cooperation Act

Intergovernmental Cooperation Act - Title I: Accounting, Auditing, and Reporting of Federal Assistance Funds - Authorizes the President to establish rules and regulations that will simplify and, where possible, make more uniform the financial reporting requirements associated with Federal assistance programs.

Declares that Federal agencies administering assistance programs to State and local governments shall, to the greatest extent feasible, rely on the internal or independent accounting and auditing of these programs by the recipient jurisdictions.

Requires each Federal agency administering assistance programs to maintain continuous liaison with counterpart State and local fiscal control administrators.

Requires Federal agency heads to coordinate and make more uniform the auditing requirements of assistance programs coming under their jurisdiction and establishes cross-servicing arrangements with other agencies for audit purposes. Authorizes the Office of Management and Budget, or such other agency as may be designated by the President, to prescribe Government-wide rules and regulations for the effective implementaion of those requirements.

Title II: Consolidation of Federal Assistance Programs - Declares that the President, from time to time, shall examine the various Federal assistance programs and determine what consolidations are necessary and desirable in order to upgrade the management and coordination of individual programs falling within the same functional area, and to promote more efficient planning and use by recipient jurisdictions of such programs.

Provides that each consolidation plan transmitted must: (1) plan responsibility for the administration of the consolidated plan in a single Federal agency; (2) specify in detail the terms and conditions under which the Federal assistance programs included in the plan shall be administered; and (3) set forth the difference between the terms and conditions of the individual Federal assistance programs to be consolidated under the plan and those that will be applicable after the plan goes into effect.

Stipulates that each Federal assistance consolidation plan shall provide for only one consolidation of individual assistance programs.

Sets forth the manner in which Congress shall consider Federal assistance consolidation plans. Stipulates that a Federal assistance consolidation plan shall become effective at the end of the first period of 60 calendar days of continuous session of the Congress after transmittal date, unless between the day of transmittal and the end of the 60 day period either House passes a resolution not favoring the plan.

Title III: Joint Funding Simplification - Authorizes the head of each Federal department and agency administering more than one Federal aid program to approve combined applications for joint projects requiring funding from two or more such programs falling under his jurisdiction. Requires departmental heads to: (1) identify related aid programs within his agency that are likely candidates for joint projects; (2) develop and promulgate guidelines, joint project examples, common application forms, and other materials that will facilitate development of an interdepartmental joint project program; and (3) review the various administrative requirements of departmental assistance programs in order to identify those that might impede the expeditious processing of joint project applications and where appropriate make the necessary modifications.

Authorizes the heads of departments and agencies administering two or more assistance programs to establish procedures which will expedite joint projects.

Permits heads of departments and agencies to enter into agreements with States to extend the benefits of joint projects and joint management funds to cover combined applications.

Authorizes the President to prescribe such rules and regulations as he deems necessary to provide for the more effective administration of funds drawn from more than one Federal assistance program or authorization.

Authorizes the President to approve on a demonstration basis combined applications for joint projects requiring funding from two or more Federal Assistance Programs administered by more than one Federal department or agency.

Authorizes the President to establish rules and regulations requiring the delegation by heads of Federal departments and agencies to other departments and agencies of project or program approval authority insofar as it involves programs or classes of programs included in an interdepartmental joint project.

Authorizes the President to make rules and regulations, not inconsistent with other applicable law, governing the setting up of joint management funds involving moneys derived from two or more Federal assistance programs administered by more than one Federal department or agency.

States that the Comptroller General of the United States shall have access to any books, documents, papers, and records of recipients of intradepartmental or interdepartmental joint projects relating to moneys received from joint management funds for the purpose of GAO audit and examination.

Title IV: Congressional and Executive Oversight of Federal Assistance Programs - Provides Congressional review procedures for grants-in-aid enacted on or after the date of enactment of the Intergovernmental Cooperation Act and having a termination provision of three or more years. Provides that, during the year preceding the date on which the program authority is to expire, the relevant substantive Committees of Congress, either separately or jointly, will conduct studies of the program and advise their respective House of their findings. Requires the Committee report to be filed with the respective Houses not later than 120 days before the program is slated to expire.

Requires departments and agencies administering more than one program to annually submit to the Congress and the President comprehensive reports on the effectiveness and progress of the requirements of this Act. Requires the President to annually submit a summary report to Congress.

Title V: Miscellaneous - Provides that no grant-in-aid to a State or a political subdivision shall be required by Federal law or administrative regulation to be deposited in a separate book account apart from other funds administered by a State or political subdivision.

Title VI: Intergovernmental Personnel Act Amendments - Provides that under the Intergovernmental Personnel Act of 1970 new Federal, State and local government service for younger citizens are to be created by establishing programs of Federal-State fellows and Federal-urban fellows. Authorizes grants for supplementary programs supported by States, general local governments or combinations of government.