In early 2009, there is no hotter topic than the economic recovery bill. President Barack Obama signed the American Recovery and Reinvestment Act of 2009 (H.R. 1) into law on February 17, 2009. The law provides $787 billion in combined economic recovery tax cuts and targeted priority investments (appropriating approximately $311 billion) in infrastructure, science, energy, and education, aiming for significant job creation.

Key acquisition-related provisions of the law include:

SEC. 1554. Special Contracting Provisions.
Requires, to the maximum extent possible, that contracts funded under the act be awarded as fixed-price contracts through the use of competitive procedures. A summary of any contract awarded with such funds that is not fixed-price and not awarded using competitive procedures shall be posted in a special section of the Recovery.gov Web site

SEC. 1602. Preference for Quick-Start Activities.
Requires that funding recipients give preference to activities that can be started and completed expeditiously, including a goal of using at least 50 percent of the funds for activities that can be initiated not later than 120 days after enactment. Requires grant funds to be used in a manner that maximizes job creation and economic benefit.

SEC. 1603. Period of Availability.
Authorizes funding under the act to remain available for obligation until September 30, 2010, unless stated otherwise in the act.

SEC. 1605. Use of American Iron, Steel, and Manufactured Goods.
Requires the use of U.S.-made iron, steel, and manufactured goods, with certain exceptions.

SEC. 1606. Wage Rate Requirements.
Requires that all laborers and mechanics employed by contractors and subcontractors on projects funded directly by or assisted in whole or in part by and through the federal government pursuant to the act be paid not less than local prevailing wages for projects of similar character (Davis-Bacon Act).

SEC 1609. National Environmental Policy Act.
Requires that adequate resources within the act must be devoted to ensuring that applicable environmental reviews under the National Environmental Policy Act are completed on an expeditious basis and that the shortest existing applicable process under the National Environmental Policy Act shall be used.

SEC 1610. FAR Applicability.
Requires executive agencies to adhere to the Federal Acquisition Regulation (FAR), the Federal Property and Administrative Services Act (41 U.S.C. 253), and chapter 137 of title 10, United States Code, when using funding appropriated under the act, unless such a contract is otherwise authorized by statute to be entered into without regard to these statutes.

SEC 1612. Transfer of Appropriations.
Authorizes agency heads "during the current fiscal year" to transfer no more than 1 percent of any appropriation under the act between other appropriations funded by the act, with certain notification and posting requirements.

SEC 1526. Transparency Web Site.
Requires establishment of a Web site (www.Recovery.gov) that must provide detailed data on contracts awarded by the federal government that expend covered funds, including information about the competitiveness of the contracting process; information about the process that was used for the award of contracts; and for contracts over $500,000, a summary of the contract. Among other things, the site must include estimates of the jobs sustained or created by the act, links to solicitations for contracts and announcements of grant competitions, and plans from each federal agency for using funds made available in the act.