Federally Funded Research and Technology Development Protection Act This bill addresses issues of transparency and accountability in federal grant-making to safeguard federally funded research and technology development. Specifically, the Office of Management and Budget must (1) require that any agency that makes a federal grant maintains compliance operations to guard against malign foreign talent recruitment programs, and (2) prescribe standardized disclosure and accountability measures to support such operations. Malign foreign talent recruitment is defined as an effort organized, managed, or funded by a foreign government to recruit any individual or public or private entity engaged in research funded by a federal agency to share information with, or otherwise act on behalf of, such government.