This bill aims to impose limitations on the amount of indirect costs allowable under Federal research awards to institutions of higher education . It mandates that these indirect costs cannot exceed the average indirect cost rate applicable to private research awards. The Director of the Office of Management and Budget will be responsible for annually determining this average private research award rate, using established guidelines for defining indirect costs. Additionally, the legislation mandates a comprehensive study by the Comptroller General of the United States on indirect cost rates for both Federal and private research awards. This study will analyze average rates, identify research fields with the highest funding, and assess the portion of indirect costs allocated to administrative staff, including those involved in diversity, equity, and inclusion initiatives. The Comptroller General is required to report these findings and provide recommendations to Congress within one year, aiming to improve the current system for determining and tracking indirect cost reimbursements.