COMPTROLLER GENERAL OF THE UNITED STATES REPORTS ON COSTS AND FINANCIAL INFORMATION REGARDING MAJOR DEFENSE ACQUISITION PROGRAMS.

SEC. 304. COMPTROLLER GENERAL OF THE UNITED STATES REPORTS ON COSTS AND FINANCIAL INFORMATION REGARDING MAJOR DEFENSE ACQUISITION PROGRAMS.(a) Review of Operating and Support Costs of Major Weapon Systems.—(1) In general.—Not later than one year after the date of the enactment of this Act, the Comptroller General of the United States shall submit to the congressional defense committees a report on growth in operating and support costs for major weapon systems.(2) Elements.—In preparing the report required by paragraph (1), the Comptroller General shall, at a minimum—(A) identify the original estimates for operating and support costs for major weapon systems selected by the Comptroller General for purposes of the report;(B) assess the actual operating and support costs for such major weapon systems;(C) analyze the rate of growth for operating and support costs for such major weapon systems;123 STAT. 1732(D) for such major weapon systems that have experienced the highest rate of growth in operating and support costs, assess the factors contributing to such growth;(E) assess measures taken by the Department of Defense to reduce operating and support costs for major weapon systems; and(F) make such recommendations as the Comptroller General considers appropriate.(b) Review of Financial Information Relating to Major Defense Acquisition Programs.—(1) Review.—The Comptroller General of the United States shall perform a review of weaknesses in operations affecting the reliability of financial information on the systems and assets to be acquired under major defense acquisition programs.(2) Elements.—The review required under paragraph (1) shall—(A) identify any weaknesses in operations under major defense acquisition programs that hinder the capacity to assemble reliable financial information on the systems and assets to be acquired under such programs in accordance with applicable accounting standards;(B) identify any mechanisms developed by the Department of Defense to address weaknesses in operations under major defense acquisition programs identified pursuant to subparagraph (A); and(C) assess the implementation of the mechanisms set forth pursuant to subparagraph (B), including—(i) the actions taken, or planned to be taken, to implement such mechanisms;(ii) the schedule for carrying out such mechanisms; and(iii) the metrics, if any, instituted to assess progress in carrying out such mechanisms.(3) Consultation.—In performing the review required by paragraph (1), the Comptroller General shall seek and consider input from each of the following:(A) The Chief Management Officer of the Department of Defense.(B) The Chief Management Officer of the Department of the Army.(C) The Chief Management Officer of the Department of the Navy.(D) The Chief Management Officer of the Department of the Air Force.(4) Report.—Not later than one year after the date of enactment of this Act, the Comptroller General shall submit 123 STAT. 1733 to the congressional defense committees a report on the results of the review required by paragraph (1).