Bill > HR3147

This bill establishes a defense industrial base advanced capabilities pilot program. The key provisions are: 1. The Under Secretary of Defense for Acquisition and Sustainment will carry out a public-private partnership program to accelerate the scaling, production, and acquisition of advanced capabilities for national security by creating incentives for investment in domestic small businesses or nontraditional businesses. 2. The program has three main goals: to bolster the defense industrial base, strengthen domestic defense supply chain resilience and capacity, and leverage private equity capital to accelerate domestic defense scaling, production, and manufacturing. 3. The program will be implemented in two phases, with the first phase consisting of an initial pilot program with one public-private partnership, and the second phase potentially expanding to up to three partnerships. 4. The Under Secretary will provide up to an 80% loan guarantee for investments made by the public-private partnerships in eligible domestic small businesses or nontraditional businesses. 5. The program will be subject to reporting and briefing requirements to the congressional defense committees on the progress and feasibility of expanding the program. 6. The authority to enter into agreements to carry out the pilot program will terminate after five years.

Military Affairs and Security

https://www.congress.gov/bill/118th-congress/house-bill/3147/all-info