A bill to amend the Federal Property and Administrative Services Act of 1949 to reform contracting procedures and contract supervision practices of the Federal Government, and for other purposes.

[AI summary unavailable — showing source text] Amends the Federal Property and Administrative Services Act of 1949 to eliminate current provisions governing fraudulent activity conducted by persons in obtaining or providing Government property. Requires each person entering into a contract with the Government regarding the procurement, transfer, or disposition of property or services to certify that: (1) all information requested by the Administrator of General Services has been or will be provided; and (2) such information is not false or misleading. Directs the Administrator to prescribe a penalty assessment schedule for false or misleading certifications and violations of such a certification. Sets forth guidelines and administrative procedures for assessment of a penalty. Allows a person aggrieved by a final order assessing a penalty to petition for judicial review of such order. Directs the Administrator, after notifying the individual involved and providing opportunity for a hearing, to debar an individual who violated such certification from participation in Government contracts for a period of between two and five years. Requires each contract or agreement for property or services to contain notice of the penalties for …