Establishes in the executive branch a Special Inspectors General Council for Hurricane Katrina. Provides for the membership of the Council to include: (1) the Inspector General of the Department of Homeland Security, who shall act as Chairman of the Council; and (2) the Inspector General of each of eight specified federal departments and agencies.
Designates the Council as the principal interagency forum for ensuring appropriate and effective oversight of, and accountability for, the expenditure of funds relating to recovery from Hurricane Katrina.
Specifies the responsibilities of the Council, including: (1) to facilitate the immediate opening of Council offices in the Gulf Cost region, with auditor and investigative personnel detailed and deployed immediately as needed; (2) to establish hotlines and websites to report waste, fraud, and abuse; and (3) to provide continuous monitoring and reporting related to the recovery efforts to the heads of the federal entities that are Council members and to Congress.
Requires the Chairman of the Council to submit semiannual reports summarizing the activities of the Council.