PUBLIC LAW 106-398 —APPENDIX 114 STAT. 1654A-207 (1) by redesignating paragraphs (3) and (4) as paragraphs (4) and (5), respectively; and (2) by inserting after paragraph (2) the following new paragraph (3): "(3)(A) The right provided to the Comptroller General in a clause of an agreement under paragraph (1) is limited as provided in subparagraph (B) in the case of a party to the agreement, an entity that participates in the performance of the agreement, or a subordinate element of that party or entity if the only agreements or other transactions that the party, entity, or subordinate element entered into with Government entities in the year prior to the date of that agreement are cooperative agreements or transactions that were entered into under this section or section 2371 of title 10, United States Code. "(B) The only records of a party, other entity, or subordinate element referred to in subparagraph (A) that the Comptroller General may examine in the exercise of the right referred to in that subparagraph are records of the same type as the records that the Government has had the right to examine under the audit access clauses of the previous agreements or transactions referred to in such subparagraph that were entered into by that particular party, entity, or subordinate element.". SEC. 805. EXTENSION OF TIME PERIOD OF LIMITATION ON PROCURE- MENT OF BALL BEARINGS AND ROLLER BEARINGS. Section 2534(c)(3) of title 10, United States Code, is amended by striking "October 1, 2000" and inserting "October 1, 2005". SEC. 806. REPORTING REQUIREMENTS RELATING TO MULTIYEAR CON- TRACTS. Section 2306b(l) of title 10, United States Code, is amended— (1) in paragraph (4)— (A) in the matter preceding subparagraph (A), by striking "The head of an agency" and all that follows through "following information" and inserting "Not later than the date of the submission of the President's budget request under section 1105 of title 31, the Secretary of Defense shall submit a report to the congressional defense committees each year, providing the following information with respect to each multiyear contract (and each extension of an existing multiyear contract) entered into, or planned to be entered into, by the head of an agency during the current or preceding year"; and (B) in subparagraph (B), by striking "in effect immediately before the contract (or contract extension) is entered into" and inserting "in effect at the time the report is submitted"; (2) by redesignating paragraphs (5) through (9) as paragraphs (6) through (10), respectively; and (3) by inserting after paragraph (4) the following new paragraph (5): "(5) The head of an agency may not enter into a multiyear contract (or extend an existing multiyear contract), the value of which would exceed $500,000,000 (when entered into or when extended, as the case may be), until the Secretary of Defense submits to the congressional defense committees a report containing the information described in paragraph (4) with respect to the contract (or contract extension).".
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