A bill to establish a joint congressional committee to be known as the Joint Committee on the Procurement of Services and Property by the Department of Defense.

Establishes the Joint Committee on the Procurement of Services and Property by the Department of Defense. Makes it the duty of such joint committee to: (1) investigate the operation, administration, and effects of the system of procurement of property and services by the Department of Defense (DOD); (2) investigate measures and methods for achieving greater economy, efficiency, and effectiveness in procurement by DOD; (3) review a procurement by DOD, if the joint committee determines that there is reason to suspect illegal activity and all judicial and administrative remedies with regard to the procurement have been exhausted; and (4) make such other investigations as deemed necessary.

Requires the joint committee to report biannually to the Committees on Armed Services of the Senate and the House of Representatives and to publish findings and conclusions from time to time for the general public.

Sets forth a procedure for the joint committee to initiate certain investigations.

Terminates the joint committee ten years after the date of enactment of this Act.