Full Opportunity and Social Accounting Act

Full Opportunity and Social Accounting Act -- Requires the President to transmit annual reports to Congress setting forth the progress and effectiveness of Federal, State, local, and private efforts to promote equal opportunity for all Americans in areas such as health, education, rehabilitation, housing, the arts, and humanities. Establishes within the Executive Office of the President a Council of Social Advisers to assist and advise the President in the preparation of the social report required by this Act. Directs the Council to appraise specified programs and establish an ongoing information system and data center to collect, coordinate, and collate data which measure the social condition of the United States population at the smallest geographical unit currently available. Requires the timely dissemination of such information and data to the States and localities upon direction of the President.