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(ii) be applied first to fund any contingent liabilities associated with share-in-savings procurements that are not fully funded.

(b) CANCELLATION AND TERMINATION.—(1) If funds are not made available for the continuation of a share-in-savings contract entered into under this section in a subsequent fiscal year, the contract shall be canceled or terminated. The costs of cancellation or termination may be paid out of

(A) appropriations available for the performance of the contract;

(B) appropriations available for acquisition of the information technology procured under the contract, and not otherwise obligated; or

(C) funds subsequently appropriated for payments of costs of cancellation or termination, subject to the limitations in paragraph (3).

(2) The amount payable in the event of cancellation or termination of a share-in-savings contract shall be negotiated with the contractor at the time the contract is entered into.

(3)(A) Subject to subparagraph (B), the head of an executive agency may enter into share-in-savings contracts under this section in any given fiscal year even if funds are not made specifically available for the full costs of cancellation or termination of the contract if funds are available and sufficient to make payments with respect to the first fiscal year of the contract and the following conditions are met regarding the funding of cancellation and termination liability:

(i) The amount of unfunded contingent liability for the contract does not exceed the lesser of

(I) 25 percent of the estimated costs of a cancellation or termination; or

(II) $5,000,000. (ii) Unfunded contingent liability in excess of $1,000,000 has been approved by the Director of the Office of Management and Budget or the Director's designee.

(B) The aggregate number of share-in-savings contracts that may be entered into under subparagraph (A) by all executive agencies to which this chapter applies in a fiscal year may not exceed 5 in each of fiscal years 2003, 2004, and 2005. (c) DEFINITIONS.- In this section:

(1) The term “contractor” means a private entity that enters into a contract with an agency. (2) The term “savings” means

(A) monetary savings to an agency; or

(B) savings in time or other benefits realized by the agency, including enhanced revenues (other than enhanced revenues from the collection of fees, taxes, debts, claims, or other amounts owed the Federal Government).

(3) The term “share-in-savings contract” means a contract under which

(A) a contractor provides solutions for

(i) improving the agency's mission-related or administrative processes; or

(ii) accelerating the achievement of agency missions; and

(B) the head of the agency pays the contractor an amount equal to a portion of the savings derived by the agency from

(i) any improvements in mission-related or administrative processes that result from implementation of the solution; or

(ii) acceleration of achievement of agency mis

sions. (d) TERMINATION.-No share-in-savings contracts may be entered into under this section after September 30, 2005.

OFFICE OF FEDERAL PROCUREMENT POLICY ACT

OFFICE OF FEDERAL PROCUREMENT POLICY ACT

AN ACT To establish an Office of Federal Procurement Policy within the Office of

Management and Budget, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) SHORT TITLE.-This Act may be cited as the "Office of Federal Procurement Policy Act”.

(b) TABLE OF CONTENTS.—The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. [Sec. 2. Repealed.] (Sec. 3. Repealed.] Sec. 4. Definitions. Sec. 5. Office of Federal Procurement Policy. Sec. 6. Authority and functions of the Administrator. Sec. 7. Administrative powers. [Sec. 8. Repealed.] Sec. 9. Effect on existing laws. (Sec. 10. Repealed.] Sec. 11. Authorization of appropriations. Sec. 12. Delegation. Sec. 14. Access to information. Sec. 15. Tests of innovative procurement methods and procedures. Sec. 16. Executive agency responsibilities. Sec. 18. Procurement notice. Sec. 19. Record requirements. Sec. 20. Advocates for competition. Sec. 21. Rights in technical data. Sec. 22. Publication of proposed regulations. Sec. 23. Contracting functions performed by Federal personnel. Sec. 25. Federal Acquisition Regulatory Council. Sec. 26. Cost Accounting Standards Board. Sec. 27. Restrictions on disclosing and obtaining contractor bid or proposal informa

tion or source selection information. Sec. 28. Advocate for the Acquisition of Commercial Products. Sec. 29. Contract clauses and certifications. Sec. 30. Federal acquisition computer network (FACNET). Sec. 30A. Federal acquisition computer network implementation. Sec. 31. Simplified acquisition procedures. Sec. 32. Procedures applicable to purchases below micro-purchase threshold. Sec. 33. List of laws inapplicable to contracts not greater than the simplified acqui

sition threshold in Federal Acquisition Regulation. Sec. 34. List of laws inapplicable to procurements of commercial items in Federal

Acquisition Regulation. Sec. 35. Commercially available off-the-shelf item acquisitions: lists of inapplicable

laws in Federal Acquisition Regulation. Sec. 36. Value engineering. Sec. 37. Acquisition workforce. Sec. 38. Modular contracting for information technology. Sec. 39. Levels of compensation of certain contractor personnel not allowable as

costs under certain contracts. Sec. 39. Protection of constitutional rights of contractors.

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