Detailed Summary

Restoring Integrity in Contracting Act of 2007 - Disqualifies an acquiring corporation, or any subsidiary of such a corporation, that enters into a corporate expatriation transaction from federal contract awards for five years. Authorizes the Administrator for Federal Procurement Policy to extend the period of ineligibility as a penalty for failure to disclose such a transaction.

Authorizes a presidential waiver in the interest of national security.

Disqualifies any entity doing business with, or having a parent or subsidiary doing business with, a state sponsor of terrorism or foreign terrorist organization from federal contract awards for at least five years. Exempts entities selling food, agricultural commodities, medicine, or medical products under the Trade Sanctions Reform and Export Enhancement Act of 2000.

Requires the revision of the Federal Acquisition Regulation issued under the Office of Federal Procurement Policy Act to require every contractor that submits a bid for a government contract to submit a certification describing whether: (1) the contractor or a parent company has entered into a corporate expatriation transaction; and (2) the contractor, a domestic parent company, or any subsidiary is doing or has done business with a state sponsor of terrorism or a foreign terrorist organization.

Amends the Office of Federal Procurement Policy Act to require the Administrator to establish and maintain a database of corporate expatriation transactions and transactions with state sponsors of terrorism or foreign terrorist organizations.

Status of the Legislation

Latest Major Action: 3/28/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Points in Favor

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Points Against

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