Sec. 304. Financial disclosure by large contractors
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/bill/118/s/2050/is/section-304·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Secretary of Defense shall require a covered contractor, as a condition for entering into a contract with the Department of Defense, to make publicly available on an annual basis the following information (excluding information determined to be classified by the Secretary): Audited financial statements. A listing of the salaries of employees performing work on the contract that receive compensation from the contractor in excess of $250,000 per year. A description of all Federal political spending, including lobbying, by the contractor.
The Secretary of Defense may suspend or debar any covered contractor that fails to comply with the disclosure requirements under paragraph (1). The term covered contractor means a contractor (other than an institute of higher education) that— received more than $10,000,000 in annual revenue from Federal Government contracts or licenses in any of the previous three fiscal years; or earned more than 20 percent of its total annual revenue from Federal Government contracts or licenses in any of the previous three fiscal years.