The Improper Payments Transparency Act proposes to amend title 31 of the United States Code, requiring the President's annual budget submission to include comprehensive information regarding improper payments. This aims to increase transparency by mandating detailed reporting on federal program expenditures. Specifically, the bill requires the budget to feature data on improper payment amounts and rates for programs and activities within each executive agency. It further mandates a narrative explanation for why these payments occurred, detailing trends over the previous three years, whether increasing, decreasing, or remaining stable. Additionally, the submission must outline any incomplete corrective actions and the steps agencies plan to take to resolve improper payment issues.