H.R. 420, also known as the "Federal Grant Accountability Act," aims to limit the indirect costs that colleges and universities can charge under federal research awards. It proposes that these costs should not exceed the average indirect cost rate applied to private research...
Simple Explanation
H.R. 420 is a rule to help make sure colleges don't charge too much extra money when doing research paid for by the government. It wants the extra costs to be about the same as when other people pay for research, so everything's fair and accountable.