Provides a permanent extension and expansion of the pilot program for streamlining awards for innovative technology projects.
Exempts contracts, subcontracts, or modifications valued at less than $7,500,000 awarded to small businesses or nontraditional defense contractors from certain cost or pricing data requirements.
Requires the Secretary of Defense to amend the Defense Federal Acquisition Regulation Supplement (DFARS) to implement and ensure the application of this program to all small business concerns.
Aims to streamline the awards process for innovative technology projects by making it easier for small businesses and nontraditional defense contractors to participate.