[Congressional Record Volume 166, Number 116 (Wednesday, June 24, 2020)]
[Senate]
[Page S3224]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1700. Mr. CARDIN submitted an amendment intended to be proposed by 
him to the bill S. 4049, to authorize appropriations for fiscal year 
2021 for military activities of the Department of Defense, for military 
construction, and for defense activities of the Department of Energy, 
to prescribe military personnel strengths for such fiscal year, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the appropriate place in title VIII, insert the 
     following:

     SEC. __. CONTRACT FINANCE RATES.

       Section 2307(a) of title 10, United States Code is amended 
     by adding at the end the following new paragraph:
       ``(3)(A) The Secretary of Defense may not establish a 
     contract finance rate for a payment that is lower than any 
     other government agency.
       ``(B)(i) The Secretary of Defense may not initiate a 
     regulatory change to a contract finance rate until the 
     Secretary provides the congressional defense committees with 
     a notice of determination of need to adjust the customary 
     rates. At a minimum, this notice shall include--
       ``(I) a justification for the rate change, together with 
     the data and analysis relied upon to inform the 
     determination; and
       ``(II) an assessment of how the rate change will lead to a 
     more effective acquisition process and a healthier industrial 
     base.
       ``(ii) The Secretary shall ensure the notice of 
     determination of need required under clause (i) is published 
     in the Federal Register not later than 5 business days after 
     the notice is provided to the congressional defense 
     committees.''.
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