Replaces everything after the enacting clause. Amends the Grant Accountability and Transparency Act. Provides that on or before July 1, 2016 (currently, 2015) the Governor's Office of Management and Budget shall adopt rules applicable to grants which adopt the federal Uniform Guidance. Provides that the Office shall, on or before July 1, 2015 (currently, 2014), establish a centralized unit within the Office to be known as the Grant Accountability and Transparency Unit. Provides that on or before July 1, 2017 (currently, 2015), all State grant-making agencies shall implement the rules issued by the Office. Provides that State grant-making agencies shall implement the policies and procedures applicable to State and federal pass-through awards by adopting rules for non-federal entities by December 31, 2016. Makes related changes. Repeals the Act on July 16, 2020 (currently, 5 years after the effective date of the Act).