((a)) ** .—** Not later than 45 days after the end of each fiscal quarter, the Commandant shall provide to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate a briefing on all Level 1 and Level 2 acquisition programs, as such terms are defined in section 1171.

((b)) ** .—** Not later than 1 week before taking procurement actions that will significantly impact the costs or timelines of a Level 1 or Level 2 acquisition program, the Commandant shall brief the committees described in subsection (a).

((c)) ** .—** Each briefing required under subsection (a) or (b) shall include, for each program—

((1)) a description of the purpose of the program, including the capabilities being acquired;

((2)) the total number of units, as appropriate, to be acquired annually until procurement is complete under the current acquisition program baseline;

((3)) the Acquisition Review Board status, including—

((A)) the current acquisition phase by increment, as applicable;

((B)) the date of the most recent review; and

((C)) whether the program has been paused or is in breach status;

((4)) a comparison between the initial Department-approved acquisition program baseline cost, schedule, and performance thresholds and objectives and the current such thresholds and objectives of the program, if applicable;

((5)) the lifecycle cost estimate, adjusted for comparison to the Future Coast Guard Program, including—

((A)) the confidence level for the estimate;

((B)) the fiscal years included in the estimate;

((C)) a breakout of the estimate for the prior five years, the current year, and the budget year;

((D)) a breakout of the estimate by appropriation account or other funding source; and

((E)) a description of and rationale for any changes to the estimate as compared to the previous quarter or to the previously approved baseline, as applicable;

((6)) a summary of the findings of any independent verification and validation of the items to be acquired or an explanation for why no such verification and validation has been performed;

((7)) a table displaying the obligation of all program funds by prior fiscal year, the estimated obligation of funds for the current fiscal year, and an estimate for the planned carryover of funds into the subsequent fiscal year;

((8)) a listing of prime contractors and major subcontractors; and

((9)) narrative descriptions of risks to cost, schedule, or performance that could result in a program breach if not successfully mitigated, including—

((A)) the current risks to such program;

((B)) any failure of such program to demonstrate a key performance parameter or threshold during operational test and evaluation conducted during the previous fiscal year;

((C)) whether there has been any decision in such fiscal year to order full-rate production before all key performance parameters or thresholds are met;

((D)) whether there has been any breach of major acquisition program cost (as such term is defined in the manual of the Coast Guard titled “Major Systems Acquisition Manual” (COMDTINST M5000.10C)) in such fiscal year; and

((E)) whether there has been any breach of major acquisition program schedule (as such term is defined in the manual of the Coast Guard titled “Major Systems Acquisition Manual” (COMDTINST M5000.10C)) during such fiscal year.

((d)) ** .—** Not later than 5 business days after the date on which the Secretary approves an Acquisition Decision Memorandum for programs described in this section, the Commandant shall submit such memorandum to the Committee on Transportation and Infrastructure of the House of Representatives and the Committee on Commerce, Science, and Transportation of the Senate.