Truth in Negotiations Amendments of 1986

Truth in Negotiations Amendments of 1986 - Amends Federal law relating to defense contracts to require that all cost or pricing data submitted by a contractor or subcontractor must be in accordance with applicable regulations and any cost principles as directed by the head of the agency concerned.

Outlines provisions concerning adjustment of a contract price at an administrative or judicial hearing as it relates to cost and pricing data submitted by a contractor and defenses to such adjustments.

Outlines the liability to the United States of a contractor who is overpaid by the Department of Defense as the result of submission by the contractor of inaccurate, incomplete, or noncurrent cost or pricing data. Repeals current Federal provisions concerning such overpayments by the United States.