A bill to amend title 10, United States Code, to establish certain requirements with respect to contracts with defense firms in which certain foreign governments own or control a significant interest, and to prohibit the award of engineer equipment acquisition contracts to firms in which the Libyan Government owns or controls an interest.

[AI summary unavailable — showing source text] Amends Federal defense procurement provisions to prohibit the head of a defense agency from contracting with a firm in which a foreign government (or an agent or instrumentality of such foreign government) owns or controls a significant interest, if such foreign government: (1) is an enemy of the United States; or (2) has repeatedly provided support for acts of international terrorism. Authorizes the head of a defense agency to enter into a contract with such a firm: (1) at the end of the 30-day period after such agency head submits a report to the Congress describing such contract; and (2) if the Secretary of Defense has determined that entering into such a contract would not be inconsistent with the foreign policy or national security objectives of the United States. Directs the head of an agency to require any firm submitting a bid or proposal to disclose any significant interest owned or controlled by a foreign government. Makes this Act inapplicable to: (1) contracts for less than $100,000; or (2) the Coast Guard or the National Aeronautics and Space Administration. Directs the Secretary, within 180 days after the enactment of this Act, to prescribe regulations to carry out th…