REPORT ON OPTIONS TO MODERNIZE OR REPLACE T-1A AIRCRAFT.

SEC. 142. REPORT ON OPTIONS TO MODERNIZE OR REPLACE T-1A AIRCRAFT. (a) Report.—Not later than 90 days after the date of the enactment of this Act, the Secretary of the Air Force shall submit to the congressional defense committees a report on options for the modernization or replacement of the T-1A aircraft capability. (b) Elements.—The report under subsection (a) shall include the following: (1) A description of options for— (A) new procurement; (B) conducting a service life extension program on existing aircraft; (C) replacing organic aircraft with leased aircraft or services for the longer term; and (D) replacing organic aircraft with leased aircraft or services while the Secretary executes a new procurement or service life extension program. (2) An evaluation of the ability of each alternative to meet future training requirements. (3) Estimates of life cycle costs. (4) A description of potential cost savings from merging a T-1A capability replacement program with other programs of the Air Force, such as the Companion Trainer Program.