Page:United States Statutes at Large Volume 116 Part 4.djvu/506
116 STAT. 2934 PUBLIC LAW 107-347—DEC. 17, 2002 are met regarding the funding of cancellation and termination liability: "(i) The amount of luifunded contingent liability for the contract does not exceed the lesser of— "(I) 25 percent of the estimated costs of a cancellation or termination; or " (ID $5,000,000. "(ii) Unfunded contingent liability in excess of $1,000,000 has been approved by the Director of the Office of Management and Budget or the Director's designee. "(B) The aggregate number of share-in-savings contracts that may be entered into under subparagraph (A) by all agencies to which this chapter applies in a fiscal year may not exceed 5 in each of fiscal years 2003, 2004, and 2005. " (c) DEFINITIONS.— In this section: "(1) The term 'contractor' means a private entity that enters into a contract with an agency. "(2) The term 'savings' means— "(A) monetary savings to an agency; or "(B) savings in time or other benefits realized by the agency, including enhanced revenues (other than enhanced revenues from the collection of fees, taxes, debts, claims, or other amounts owed the Federal Government). "(3) The term *share-in-savings contract' means a contract under which— "(A) a contractor provides solutions for— "(i) improving the agency's mission-related or administrative processes; or "(ii) accelerating the achievement of agency missions; and "(B) the head of the agency pays the contractor an amount equal to a portion of the savings derived by the agency from— "(i) any improvements in mission-related or administrative processes that result from implementation of the solution; or "(ii) acceleration of achievement of agency missions. " (d) TERMINATION.—No share-in-savings contracts may be entered into under this section after September 30, 2005.". (2) The table of sections at the beginning of such chapter is amended by adding at the end of the following new item: " 2332. Share-in-savings contracts. ". (b) OTHER CONTRACTS.— Title III of the Federal Property and Administrative Services Act of 1949 is amended by adding at the end the following: 41 USC 266a. " SEC. 317. SHARE-XN-SAVINGS CONTRACTS. " (a) AUTHORITY TO ENTER INTO SHARE-IN-SAVINGS CON- TRACTS. — (1) The head of an executive agency may enter into a share-in-savings contract for information technology (as defined in section 11101(6) of title 40, United States Code) in which the Government awards a contract to improve mission-related or administrative processes or to accelerate the achievement of its mission and share with the contractor in savings achieved through contract performance.