(a) Authority
(1) In general
Subject to limitations in paragraph (2), a portfolio acquisition executive may transfer amounts of authorizations made available for programs, projects, or activities that are included in the portfolio assigned under the leadership of such portfolio acquisition executive in accordance with section 1732 of title 10, United States Code.
(2) Limitations on amounts transferred
The transfer of an amount made in accordance with paragraph (1), with respect to amounts authorized for Research, Development, Test, and Evaluation—
shall not exceed 10 percent of the amount authorized for a fiscal year for Research, Development, Test, and Evaluation for all programs, projects, or activities in the portfolio of such portfolio acquisition executive; and
may only be transferred to a corresponding Procurement program, project, or activity within the same portfolio.
(b) Transfer criteria
A portfolio acquisition executive may transfer amounts under subsection (a) only if—
such proposed capability has achieved a technology readiness level of 8, as validated by the milestone decision authority (as defined in section 4211 of title 10, United States Code) or an independent technical authority designated by the Secretary of Defense; and
the portfolio acquisition executive determines in writing that procurement of such proposed capability is necessary to address an operational problem or fulfill a capability requirement (as such terms are defined, respectively, in section 3101 of title 10, United States Code) in a timely and cost-effective manner.
(c) Notification
(1) In general
Not later than 15 days before transferring amounts under subsection (a), the portfolio acquisition executive making such transfer shall submit a written notification of such transfer to—
the congressional defense committees;
the Under Secretary of Defense for Acquisition and Sustainment;
the Under Secretary of Defense for Research and Engineering; and
the Under Secretary of Defense (Comptroller).
(2) Contents
Each notification required under paragraph (1) with respect to a transfer of amounts under subsection (a) shall include—
the amount to be transferred;
an identification of the program, project, or activity that is the proposed source of the Research, Development, Test, and Evaluation amount and an identification of the program, project, or activity that is the proposed recipient Procurement account;
a description of the capability proposed for procurement using such transfer amounts and the validated technology readiness level of such capability;
the written determination required by paragraph (3); and
an assessment of the benefits or risks anticipated as a result of the transfer of such amounts on the programs, projects, and activities assigned under the leadership of the portfolio acquisition executive concerned.
(d) General limitations
(1) New programs of record
A portfolio acquisition executive that transfers amounts pursuant to this section may not use such amounts to initiate a program of record without approval from the appropriate milestone decision authority.
(2) Fund availability
Amounts transferred pursuant to this section shall be subject to the same period of availability as the Procurement appropriation to which they are transferred.
(e) Exclusion from general transfer authority
Amounts transferred pursuant to this section shall not be included in the dollar limitation of section 1001 of this Act.