(a) Maintenance of integrity and ethical values within Department of EducationWithin 60 days after December 26, 2007, the Secretary of Education shall implement procedures—
(1)
to assess whether a covered individual or entity has a potential financial interest in, or impaired objectivity towards, a product or service purchased with, or guaranteed or insured by, funds administered by the Department of Education or a contracted entity of the Department; and
(b) Review by Inspector General
(1)
Within 60 days after the implementation of the procedures described in subsection (a), the Inspector General of the Department of Education shall report to the Committees on Appropriations of the House of Representatives and the Senate on the adequacy of such procedures.
(c) DefinitionFor purposes of this section, the term “covered individual or entity” means—
(2)
a contractor or subcontractor of the Department, or an individual hired by the contracted entity;