Sec. 863. Notification on retention rate policy
169 words·~1 min read·
/bill/117/hr/7900/pcs/section-863·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A determination of the Secretary of the Navy that a contract for non-nuclear surface ship repair and maintenance made to a private entity requires the Secretary of the Navy to retain more than 1 percent of the overall contract value may only be carried out after the end of a 30-day period beginning on the date on which the congressional defense committees receive the notification from the Secretary of the Navy under subsection (b). The notification described in subsection
(a)shall include the following: A description of the rationale for making such determination. A description of the potential impact on the defense industrial base because of such determination. A description of how the Navy plans to use, to a greater extent, the flexibility on retention rates pursuant to chapter 277 of title 10, United States Code. This section and the requirements of this section shall terminate on the later of— the date on which the National Defense Authorization Act for Fiscal Year 2024 is enacted; or September 30, 2023.