1. Defense industrial base advanced capabilities pilot program (a) Establishment (1) In general The Under Secretary of Defense for Acquisition and Sustainment shall carry out a public-private partnership pilot program to accelerate the scaling, production, and acquisition of advanced capabilities for national security by creating incentives for investment in domestic small businesses or nontraditional businesses to create a robust and resilient defense industrial base. (2) Goals The goals of the public-private partnership pilot program are as follows: (A) To bolster the defense industrial base through acquisition and deployment of advanced capabilities necessary to field Department of Defense modernization programs and priorities. (B) To strengthen domestic defense supply chain resilience and capacity by investing in innovative defense companies. (C) To leverage private equity capital to accelerate domestic defense scaling, production, and manufacturing. (b) Public-Private partnerships (1) In general In carrying out subsection (a), the Under Secretary shall enter into public-private partnerships, consistent with the phased implementation provided for in subsection (e), with for-profit persons using the criteria set forth in paragraph (2). (2) Criteria The criteria referred to in paragraph (1) shall include the following: (A) The person shall be independent. (B) The person shall be free from foreign oversight, control, influence, or beneficial ownership. (C) The person shall have commercial private equity fund experience in the defense and commercial sectors. (D) The person shall be eligible for access to classified information (as defined in the procedures established pursuant to section 801(a) of the National Security Act of 1947 ( 50 U.S.C. 3161(a) )). (3) Operating agreement The Under Secretary and a person or persons with whom the Under Secretary enters a partnership under paragraph (1) shall enter into an operating agreement that sets forth the roles, responsibilities, authorities, reporting requirements,