Foreign Procurement Practices Act

Foreign Procurement Practices Act - Establishes the Commission of Foreign Procurement Practices which shall be composed of seven members appointed by the President for the life of the Commission. Sets forth the administrative powers of the Commission.

Provides that the Commission shall review the procurement practices of foreign governments and the Government of the United States as they affect the business opportunities for foreign firms. States that the Commission shall evaluate such practices to determine whether United States firms have an opportunity abroad to secure government contracts equivalent to the opportunity afforded foreign firms operating in the United States to secure such contracts.

Requires the Commission, not later than one year after the date of enactment of this Act, to submit a report of its findings and recommendations to the President and to the Congress. Terminates the Commission 60 days after the submission of such report.

Authorizes to be appropriated $459,000 for fiscal year 1974, and $77,000 for fiscal year 1975, to carry out the provisions of this Act.