Sec. 305. Modification to nontraditional defense contractor definitions
135 words·~1 min read·
/bill/118/s/5618/is/section-305A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 3014 of title 10, United States Code, is amended— by striking means an entity that is not currently performing and inserting the following: “means an entity that— is not currently performing ; and by striking such section. and inserting the following: “such section; certifies that, for the ultimate parent company’s three audited annual financial statements preceding the solicitation of sources by the Department of Defense for the procurement or transaction, has— achieved more than 30 percent year-over-year revenue growth; or has reinvested back into the business more than 10 percent of its revenue through non-reimbursable research and development; or certifies that it has raised funding through third-party sources in exchange for equity amounting to a minimum of 5 percent of the value of the company's total outstanding shares within the last two years. .