S.Amdt. 1700

SA 1700. Mr. CARDIN submitted an amendment intended to be proposed by
him to the bill S. 4049, to authorize appropriations for fiscal year
2021 for military activities of the Department of Defense, for military
construction, and for defense activities of the Department of Energy,
to prescribe military personnel strengths for such fiscal year, and for
other purposes; which was ordered to lie on the table; as follows:

At the appropriate place in title VIII, insert the
following:

SEC. __. CONTRACT FINANCE RATES.

Section 2307(a) of title 10, United States Code is amended
by adding at the end the following new paragraph:
``(3)(A) The Secretary of Defense may not establish a
contract finance rate for a payment that is lower than any
other government agency.
``(B)(i) The Secretary of Defense may not initiate a
regulatory change to a contract finance rate until the
Secretary provides the congressional defense committees with
a notice of determination of need to adjust the customary
rates. At a minimum, this notice shall include--
``(I) a justification for the rate change, together with
the data and analysis relied upon to inform the
determination; and
``(II) an assessment of how the rate change will lead to a
more effective acquisition process and a healthier industrial
base.
``(ii) The Secretary shall ensure the notice of
determination of need required under clause (i) is published
in the Federal Register not later than 5 business days after
the notice is provided to the congressional defense
committees.''.
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