Section 1. Short title

This Act may be cited as the Defense Industry Pricing Transparency Act.

Sec. 2. Reporting of price increases

Chapter 271 of title 10, United States Code, is amended by adding at the end the following new section:

3709. Reporting of increases above specified prices

(a) In general

An offeror shall submit to the relevant contracting officer a report not later than 30 days after the offeror becomes aware that the price of a product or service under a covered contract reaches or exceeds an amount equal to—

(1)

25 percent more than the price specified in the covered contract bid;

(2)

25 percent more than the price the Government paid for such product or service during the calendar year immediately preceding the date on which the covered contract is entered into; or

(3)

50 percent more than the price the Government paid for such product or service at any time before the five-year period preceding the date on which the covered contract is entered into.

(b) Noncompliance

With respect to an offeror who fails to submit the report required under this section, the Director of the Defense Contract Audit Agency or the relevant service acquisition executive shall include in the Federal Awardee Performance and Integrity Information System (or any successor system) the following information:

(1)

An identification of such offeror and the specific product or service to which such report should relate.

(2)

The national stock number of such product or service and the order quantity, unit cost, total cost, purchasing or reimbursing entity, and date of the order for such product or service.

(c) Covered contract defined

In this section, the term covered contract means a contract awarded using procedures other than competitive procedures under section 3204 of this title or pursuant to section 6.302 of the Federal Acquisition Regulation.