Page:United States Statutes at Large Volume 124.djvu/4333

 124 STAT. 4307 PUBLIC LAW 111–383—JAN. 7, 2011 (3) DESCRIPTION IN SEMIANNUAL REPORTS.—The Under Sec- retary shall describe each interim milestone established pursu- ant to paragraph (1) in the next semiannual report submitted pursuant to section 1003(b) of the National Defense Authoriza- tion Act for Fiscal Year 2010 (Public Law 111–84; 123 Stat. 2439; 10 U.S.C. 2222 note). Each subsequent semiannual report submitted pursuant to section 1003(b) shall explain how the Department has progressed toward meeting such interim mile- stones. (b) VALUATION OF DEPARTMENT OF DEFENSE ASSETS.— (1) REQUIREMENT.—Not later than 120 days after the date of the enactment of this Act, the Under Secretary of Defense (Comptroller) shall, in consultation with other appropriate Fed- eral agencies and officials— (A) examine the costs and benefits of alternative approaches to the valuation of Department of Defense assets; (B) select an approach to such valuation that is con- sistent with principles of sound financial management and the conservation of taxpayer resources; and (C) begin the preparation of a business case analysis supporting the selected approach. (2) The Under Secretary shall include information on the alternatives considered, the selected approach, and the business case analysis supporting that approach in the next semiannual report submitted pursuant to section 1003(b) of the National Defense Authorization Act for Fiscal Year 2010 (Public Law 111–84; 123 Stat. 2439; 10 U.S.C. 2222 note). (c) REMEDIAL ACTIONS REQUIRED.—In the event that the Department of Defense, or any component of the Department of Defense, is unable to meet an interim milestone established pursu- ant to subsection (a), the Under Secretary of Defense (Comptroller) shall— (1) develop a remediation plan to ensure that— (A) the component will meet the interim milestone no more than one year after the originally scheduled date; and (B) the component’s failure to meet the interim mile- stone will not have an adverse impact on the Department’s ability to carry out the plan under section 1003(a) of the National Defense Authorization Act for Fiscal Year 2010 (Public Law 111–84; 123 Stat. 2439; 10 U.S.C. 2222 note); and (2) include in the next semiannual report submitted pursu- ant to section 1003(b) of the National Defense Authorization Act for Fiscal Year 2010 (Public Law 111–84; 123 Stat. 2439; 10 U.S.C. 2222 note)— (A) a statement of the reasons why the Department of Defense, or component of the Department of Defense, will be unable to meet such interim milestone; (B) the revised completion date for meeting such interim milestone; and (C) a description of the actions that have been taken and are planned to be taken by the Department of Defense, or component of the Department of Defense, to meet such interim milestone. (d) INCENTIVES FOR ACHIEVING AUDITABILITY.— Deadline.