“A bill to require reporting of price increases on noncompetitive contracts, and for other purposes.”
No CRS summary available for this bill.
This section establishes in new 10 U.S.C. §3709 a requirement for offerors on covered contracts—defined as those awarded without competition under 10 U.S.C. §3204 and FAR §6.302—to report to the relevant contracting officer within 30 days after a product or service price reaches or exceeds (1) 25% above the contract bid price or the price paid the previous calendar year, or (2) 50% above the price paid five years earlier. The section further establishes in new 10 U.S.C. §3710 a requirement for the Defense Contract Audit Agency Director or relevant service acquisition executive to report the following in the Federal Awardee Performance and Integrity Information System (FAPIIS): (1) contractors failing to report such price increases; (2) updated audit findings on noncompliance; and (3) details of unreported price increases, including National Stock Number, order quantity, unit cost, total cost, purchasing or reimbursing entity, and order date.