This legislation strengthens federal efforts to combat human trafficking in government contracts and grants. It mandates that contractors and grantees submit their anti-trafficking compliance plans upfront with certification, rather than only upon request. A key new provision requires recipients to promptly report any trafficking activities by themselves or their agents to the contracting officer, including details of the incident and remedial actions taken. To bolster oversight and enforcement, the legislation requires the Inspector General to conduct an investigation whenever such an incident report is submitted. It also grants federal agencies new authority to suspend payments under a contract or grant until appropriate remedial action is taken for non-compliance, ensuring greater accountability. Furthermore, the bill directs the Office of Management and Budget (OMB) to report on the feasibility of requiring contracting officials to conduct risk-based assessments of anti-trafficking plans for high-risk contracts and locations, and to track anti-trafficking training for federal personnel.