Federal Acquisition Security Council Improvement Act of 2024

The Federal Acquisition Security Council Improvement Act of 2024 amends the Federal Acquisition Security Council structure to strengthen national security protections in government procurement. It redefines key terms like "covered source of concern" (a foreign entity posing security risks) and establishes a more structured Council within the Executive Office of the President with specific agency representatives. The Council will develop a prioritization scheme for evaluating security risks, issue "designated orders" to exclude certain foreign sources from government contracts, and monitor compliance with these orders. The bill creates a Program Office within the Office of the National Cyber Director to support these functions and establishes procedures for reviewing and modifying exclusion orders.