; and (2) ensure that the program executive officer and the head of a science and technology reinvention laboratory assigned as co-leads under paragraph (1) have similar existing requirements and funding for transitioning technologies to acquisition programs within the area of focus for such acquisition. (c) Sunset Subsection (a) shall expire on September 30, 2027. (d) Definitions In this section: (1) The terms military department and services acquisition executive have the meanings given such terms in section 101(a) of title 10, United States Code. (2) The term program executive officer has the meaning given such term in section 1737(a) of title 10, United States Code. (3) The term science and technology reinvention laboratory means a science and technology reinvention laboratory designated under section 4121(b) of title 10, United States Code. B Amendments to General Contracting Authorities, Procedures, and Limitations 820. Amendments to multiyear procurement authority Section 3501(a)(1) of title 10, United States Code, is amended— (1) by striking will result in significant savings and inserting the following: “will result in— (A) significant savings ; and (2) by striking annual contracts. and inserting the following: “annual contracts; or (B) necessary defense industrial base stability not otherwise achievable through annual contracts. . 821. Modification of approval authority for certain follow-on production contracts or transactions Section 4022 of title 10, United States Code, is amended— (1) in subsection (a)(2)(C)(i)(I), by inserting after subsection (d) the following: were met for the prior transaction for the prototype project that provided for the award of the follow-on production contract or transaction, and the requirements of subsection (f)