Provides equitable relief to government contractors who have sustained unanticipated expenses due to increases for construction materials; appropriates $25 million.

This bill provides financial relief to government contractors who faced unexpected cost increases for construction materials. It applies to contracts valued at $25 million or less that were awarded before December 1, 2021, for materials purchased after March 1, 2020. Contractors can request contract adjustments when material costs rise more than 5% above the original bid (measured by a nationally recognized economic index), with adjustments subject to approval by relevant officials. The bill appropriates $25 million to cover these adjustments, with provisions for both upward adjustments during cost increases and downward adjustments if costs later decrease. This relief applies to contractors working with state agencies, local governments, state authorities, and certain interstate agencies.