Defense Innovation and Small Business Momentum Act of 2024

Bill: 118-s-4250
Sponsor: full_name: Sen. Rubio, Marco [R-FL]
Introduced: 2024-05-02
Policy area: Armed Forces and National Security
Latest action: action_date: 2024-05-02
text: Read twice and referred to the Committee on Armed Services.

Summaries:

tv_txt: II 118th CONGRESS 2d Session S. 4250 IN THE SENATE OF THE UNITED STATES May 2, 2024 Mr. Rubio (for himself and Mr. Cotton ) introduced the following bill; which was read twice and referred to the Committee on Armed Services A BILL To provide for a permanent extension and expansion of the pilot program for streamlining awards for innovative technology projects.

1. Short title This Act may be cited as the Defense Innovation and Small Business Momentum Act of 2024 . 2. Permanent extension and expansion of pilot program for streamlining awards for innovative technology projects (a) Exceptions to cost or pricing data requirements Section 3703 of title 10, United States Code, is amended by adding at the end the following new subsection: (g) Program for streamlining awards for small businesses and nontraditional defense contractors The requirements under section 3702(a) of this title shall not apply to any contract, subcontract, or modification of a contract or subcontract valued at less than $7,500,000 awarded to a small business concern (as that term is defined in section 3 of the Small Business Act ( 15 U.S.C. 632 ) or nontraditional defense contractor. . (b) Revisions to DFARS The Secretary of Defense shall amend the Defense Federal Acquisition Regulation Supplement (DFARS) to implement the program established under subsection (g) of section 3703 of title 10, United States Code, as added by subsection (a), ensuring the application of the program to all small business concerns and streamlining the awards process for innovative technology projects.