OMB is extending the public comment period for input regarding making the oversight of Federal funds more effective and efficient. [This extension is expected to be published in the Federal Register on Monday, March 26, 2012]
I posted a description of the proposed changes previously.
The new deadline for comments to be posted is April 30, 2012. The Federal Register posting is available here. Comments can be posted via Regulations.gov (Search for “2012-04521”, which is the Federal Register Number for this posting).