PUBLIC LAW 107-347—DEC. 17, 2002 116 STAT. 2937 a portion of the savings (after payment of the contractor's share of the savings) derived from share-in-savings contracts as funds are appropriated to the agency in future fiscal years. (d) REGULATIONS.—Not later than 270 days after the date of Deadline, the enactment of this Act, the Federal Acqioisition Regulation shall be revised to implement the provisions enacted by this section. Such revisions shall— (1) provide for the use of competitive procedures in the selection and award of share-in-savings contracts to— (A) ensure the contractor's share of savings reflects the risk involved and market conditions; and (B) otherwise yield greatest vadue to the government; and (2) allow appropriate regulatory flexibility to facilitate the use of sheire-in-savings contracts by executive agencies, including the use of innovative provisions for technology refreshment and nonsteindard Federal Acquisition Regulation contract clauses. (e) ADDITIONAL GUIDANCE. —The Administrator of General Services shall— (1) identify potential opportunities for the use of shsirein-savings contracts; and (2) in consultation with the Director of the Office of Management and Budget, provide guidance to executive agencies for determining mutually beneficial savings share ratios and baselines from which savings may be measured. (f) OMB REPORT TO CONGRESS.—In consultation with executive Deadline, agencies, the Director of the Office of Management and Budget shall, not later than 2 years after the date of the enactment of this Act, submit to Congress a report contedning— (1) a description of the number of share-in-savings contracts entered into by each executive agency under by this section and the Eimendments made by this section, and, for each contract identified— (A) the information technology acquired; (B) the total amount of payments made to the contractor; and (C) the total amount of savings or other measurable benefits realized; (2) a description of the ability of agencies to determine the baseline costs of a project aggdnst which savings can be measured; and (3) any recommendations, as the Director deems appropriate, regarding additional changes in law that may be necessary to ensure effective use of share-in-savings contracts by executive agencies. (g) GAO REPORT TO CONGRESS. —The Comptroller General shall. Deadline. not later than 6 months after the report required under subsection (f) is submitted to Congress, conduct a review of that report and submit to Congress a report containing— (1) the results of the review; (2) an independent assessment by the Comptroller General of the effectiveness of the use of share-in-savings contracts in improving the mission-related and administrative processes of the executive agencies and the achievement of agency missions; and
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