A bill to limit the employment by Government contractors of certain former Government personnel.

Requires each Federal agency procurement contract to prohibit the contractor from employing any Government employee who performed a Government procurement function with that contractor for the term of the contract or five years following the date the employee is separated from Government service, whichever period ends later. Allows an agency head to waive such prohibition with respect to an individual if the agency head considers the employment of that individual by the contractor to be essential for national security purposes. Requires such waiver to be published in the Federal Register or approved in advance by the Office of Government Ethics (OGE). Penalizes a contractor an amount equal to the annual rate of compensation of the individual employed in violation of this Act for each day of such employment.

Requires each contractor to send an annual report listing each former Government employee hired by that contractor within the previous five years to the agency by which each employee was last employed. Directs the Inspector General of each such agency to review the report to identify any violation of this Act. Requires the Director of OGE to: (1) conduct an annual random survey of the reports to check for violations of this Act; and (2) report to Congress annually on his or her findings and on the operation of this Act.