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The Federal Contractor Cybersecurity Vulnerability Reduction Act of 2024 requires federal contractors to implement vulnerability disclosure policies aligned with National Institute of Standards and Technology (NIST) guidelines. The Office of Management and Budget, in consultation with relevant cybersecurity agencies, must review and recommend updates to Federal Acquisition Regulation (FAR) contract requirements within 180 days, which the FAR Council will then incorporate into procurement rules. The bill applies to contractors with contracts above the simplified acquisition threshold or those managing federal information systems, and allows agency waivers for national security or research purposes with congressional notification.
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