Not later than 180 days after the date of the enactment of this Act, the Federal Acquisition Regulatory Council shall amend the Federal Acquisition Regulation to require that a contractor shall, as a condition for being awarded a contract for the procurement of goods or services, disclose covered information related to any contracts or other relevant commercial ties the contractor, first tier subcontractor, or any related entity has that are in effect at the time of contract award, or has had within the previous three years that are no longer in effect, with a covered entity. The contractor shall update such disclosure not later than 30 days after the contractor, first tier subcontractor, or any related entity enters into or renews a contract or other relevant commercial ties with a covered entity.