INVESTMENT STRATEGY FOR MAJOR DEFENSE ACQUISITION PROGRAMS.

SEC. 817. INVESTMENT STRATEGY FOR MAJOR DEFENSE ACQUISITION PROGRAMS.(a) Report Required.—Not later than May 1, 2008, the Secretary of Defense shall submit to the congressional defense committees a report on the strategies of the Department of Defense for balancing the allocation of funds and other resources among major defense acquisition programs.(b) Elements.—The report required by subsection (a) shall address, at a minimum, the ability of the organizations, policies, and procedures of the Department of Defense to provide for—(1) establishing priorities among needed capabilities under major defense acquisition programs, and assessing the resources (including funds, technologies, time, and personnel) needed to achieve such capabilities;(2) balancing the cost, schedule, and requirements of major defense acquisition programs, including those within the same 122 STAT. 225 functional or mission area, to ensure the most efficient use of resources; and(3) ensuring that the budget, requirements, and acquisition processes of the Department of Defense work in a complementary manner to achieve desired results.(c) Role of Tri-Chair Committee in Resource Allocation.—(1) In general.—The report required by subsection (a) shall also address the role of the committee described in paragraph (2) in the resource allocation process for major defense acquisition programs.(2) Committee.—The committee described in this paragraph is a committee (to be known as the “Tri-Chair Committee”) composed of the following:(A) The Under Secretary of Defense for Acquisition, Technology, and Logistics, who is one of the chairs of the committee.(B) The Vice Chairman of the Joint Chiefs of Staff, who is one of the chairs of the committee.(C) The Director of Program Analysis and Evaluation, who is one of the chairs of the committee.(D) Any other appropriate officials of the Department of Defense, as jointly agreed upon by the Under Secretary and the Vice Chairman.(d) Changes in Law.—The report required by subsection (a) shall, to the maximum extent practicable, include a discussion of any changes in the budget, acquisition, and requirements processes of the Department of Defense undertaken as a result of changes in law pursuant to any section in this Act.(e) Recommendations.—The report required by subsection (a) shall include any recommendations, including recommendations for legislative action, that the Secretary considers appropriate to improve the organizations, policies, and procedures described in the report.