12 2 STA T .45 4 9PUBLIC LA W 11 0– 41 7—O CT. 14 , 200 8SEC.864 . R E GULATION SONT H EUSEO F COST - REI MB URSEMENT CON- TRACTS. (a)INGE NE RAL.—Notl at er t h a n270d a ys a f ter the date of the ena c t m ent of th i s A ct , the F ederal Ac qu isition R e g ulation shall b ere v ised to address the use of cost - reimbursement contracts. (b) CO N T ENT.— T he regulations p romulgated under subsection (a) shall include, at a minimum, guidance regarding— ( 1 ) w hen and under what circumstances cost-reimburse- ment contracts are appropriate
(2) the acquisition plan findings necessary to support a decision to use cost-reimbursement contracts; and ( 3 ) the acquisition wor k force resources necessary to award and manage cost-reimbursement contracts. (c) IN SP E C TOR GENERAL RE VI E W .—Not later than one year after the regulations required by subsection (a) are promulgated, the Inspector General for each e x ecutive agency shall review the use of cost-reimbursement contracts by such agency for compliance with such regulations and shall include the results of the review in the Inspector General ’ s next semiannual report. (d) REPORT.— S ub j ect to subsection (f), the D irector of the O ffice of M anagement and B udget shall submit an annual report to Congressional committees identified in subsection (e) on the use of cost-reimbursement contracts and task or delivery orders by all executive agencies. The report shall be submitted no later than March 1 and shall cover the fiscal year ending September 30 of the prior year. The report shall include— (1) the total number and value of contracts awarded and orders issued during the covered fiscal year; (2) the total number and value of cost-reimbursement con- tracts awarded and orders issued during the covered fiscal year; and (3) an assessment of the effectiveness of the regulations promulgated pursuant to subsection (a) in ensuring the appro- priate use of cost-reimbursement contracts. (e) CON G RESSIONAL CO M MITTEES DE F INE D .—The report required by subsection (d) shall be submitted to the Committee on Oversight and Government Reform of the H ouse of Representa- tives; the Committee on Homeland Security and Governmental Affairs of the Senate; the Committees on Appropriations of the House of Representatives and the Senate; and, in the case of the Department of Defense and the Department of E nergy, the Commit- tees on Armed Services of the Senate and the House of Representa- tives. (f) RE QU IREMENTS L IMITED TO CERTAIN AGENCIES AND Y EARS.— (1) AGENCIES.—The requirement in subsection (c) shall apply only to those executive agencies that awarded contracts or issued orders (under contracts previously awarded) in a total amount of at least $ 1,000,000,000 in the fiscal year pro- ceeding the fiscal year in which the assessments and reports are submitted. (2) YEARS.—The report required by subsection (d) shall be submitted from March 1, 200 9 , until March 1, 201 4 . (g) E X ECUTIVE AGENC Y DEFINED.—In this section, the term ‘ ‘executive agency’’ has the meaning given such term in section 4(1) of the Office of Federal P rocurement Policy Act (41 U .S.C. 403(1)). Timep e r i od.A pp l i cab ili ty . D eadli n e. Deadline.
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