This bill requires the Department of Defense to update its contracting regulations to allow small businesses bidding on military contracts to use their affiliate companies' past performance records as part of their bid evaluation. Specifically, the Defense Secretary must amend federal acquisition rules by July 1, 2024, so that when evaluating small business proposals, the agency considers the performance history of any affiliated companies that are relevant to the contract. The change affects small business contractors seeking defense department work, potentially improving their competitive position by allowing them to demonstrate capability through their parent companies' or related firms' track records. The bill does not specify any new funding requirements, as it only mandates a regulatory change to existing contracting procedures. This legislation was introduced in December 2023 and referred to the House Armed Services Committee.