Access to Contract Equity Act

Access to Contract Equity Act - States that, with respect to a contract goal by the Department of Defense, the Coast Guard, and the National Aeronautics and Space Administration for the award of five percent of their procurement contracts to small disadvantaged businesses and certain minority institutions, no suspension of price modifications (allowing an item's contract price to exceed fair market value) shall be issued in an industry category if the President determines that contracts for a price exceeding fair market value are necessary to remedy demonstrated discrimination in such category. Requires such determination to be published in the Federal Register, and allows any person affected by the application of such determination to seek appropriate judicial review.

Amends provisions of the National Defense Authorization Act for Fiscal Year 1991 relating to the Mentor-Protege Pilot Program to: (1) make the program term three years, or five years in unusual circumstances as determined by the Secretary of Defense; (2) authorize (currently, requires) the Secretary to reimburse a mentor firm for the full cost of certain payments and assistance made under the program; (3) allow the Secretary to provide such reimbursement using a separate contract; (4) make determinations made in the annual performance reviews of a mentor firm's agreement a major factor in determining reimbursement amounts; and (5) limit to $1 million per fiscal year the total amount reimbursed for assistance to a protege firm, except when the Secretary determines that unusual circumstances justify reimbursement of a higher amount.