DATABASE ON PRICE TRENDS OF ITEMS AND SERVICES UNDER FEDERAL CONTRACTS.

SEC. 851. DATABASE ON PRICE TRENDS OF ITEMS AND SERVICES UNDER FEDERAL CONTRACTS. (a) Database Required.— (1) In general.—Chapter 33 of title 41, United States Code, is amended by adding at the end the following new section: “SEC. 3312. [41 U.S.C. 3312 note] Database on price trends of items and services under Federal contracts “(a) Database Required. The Administrator shall establish and maintain a database of information on price trends for items and services under contracts with the Federal Government. The information in the database shall be designed to assist Federal acquisition officials in the following: “(1) Monitoring developments in price trends for items and services under contracts with the Federal Government. “(2) Conducting price or cost analyses for items and services under offers for contracts with the Federal Government, or otherwise conducting determinations of the reasonableness of prices for items and services under such offers, and addressing unjustified escalation in prices being paid by the Federal Government for items and services under contracts with the Federal Government. “(b) Use. (1) The database under subsection (a) shall be available to executive agencies in the evaluation of offers for contracts with the Federal Government for items and services. “(2) The Secretary of Defense may satisfy the requirements of this section by complying with the requirements of section 892 of the Ike Skelton National Defense Authorization Act for Fiscal Year 2011 (10 U.S.C. 2306a note).” . (2) Clerical amendment.—The table of sections at the beginning of chapter 33 of such title is amended by adding at the end the following new item: “3312. Database on price trends of items and services under Federal contracts.” . (b) [41 U.S.C. 3312 note] Use of Elements of Department of Defense Pilot Project.—In establishing the database required by section 3312 of title 41, United States Code (as added by subsection (a)), the Administrator for Federal Procurement Policy shall use and incorporate appropriate elements of the pilot project on pricing being carried out by the Under Secretary of Defense for Acquisition, Technology, and Logistics pursuant to section 892 of the Ike Skelton National Defense Authorization Act for Fiscal Year 2011 (10 U.S.C. 2306a note) and the Better Buying Power initiative of the Secretary of Defense.