1. Short title This Act may be cited as the VA Procurement Efficiency and Transparency Act . 2. Information on cost or price savings from competition (a) In general Chapter 81 of title 38, United States Code, is amended by inserting after section 8128 the following new section: 8129. Information on cost or price savings from competition (a) Recording of information With respect to any contract awarded by the Secretary that is reported in the Federal Procurement Data System described in section 1122(a)(4)(A) of title 41, United States Code, or any successor system, the Secretary shall record information on the amount of any cost or price savings realized by using competitive procedures in awarding such contract. (b) Placement of records The Secretary shall place recorded information under subsection (a) as follows: (1) With respect to contracts recorded in the Electronic Contract Management System, or any successor system, in such system. (2) With respect to contracts not covered by paragraph (1), in a location determined appropriate by the Secretary. (c) Calculation of cost savings (1) In carrying out subsection (a), the Secretary shall calculate the amount of cost or price savings realized by using competitive procedures in awarding a contract by— (A) subtracting the total value of the selected offer or quote from the average of the total values of all offers or quotes evaluated; or (B) subtracting the total value of the selected offer or quote from the total value of the median offer or quote evaluated. (2) If the difference calculated pursuant to paragraph (1) is negative, the Secretary shall record such difference as zero. (3) The Secretary shall make calculations under paragraph (1) with respect to a contract— (A) at the time at which the Secretary obligates amounts under such contract