Authorizes the Secretary of Defense to rapidly acquire, as specified herein, equipment needed by a combatant commander to eliminate a combat capability deficiency that has resulted in combat fatalities. Requires the Secretary, not later than 30 days after the date of the enactment of this Act, to develop a process for such rapid acquisition authority and submit to Congress a detailed explanation of the process, including procedures to be followed in carrying out the process. Requires the process to provide for the following: (1) a requirement that the process be used only to acquire the minimum amount of equipment needed until the needs of the combatant commander can be fulfilled under existing acquisition policies; (2) a goal of awarding a contract for the equipment within 15 days after receipt of a request from a commander; and (3) in a case in which the equipment cannot be acquired without an extensive delay, a requirement for an interim solution to minimize the combat capability deficiency and combat fatalities until the equipment can be acquired. Requires the process to provide for the waiver of the applicability of laws, policies, directives, and regulations related to: (1) the establishment of the requirement for the equipment; (2) the research, development, test, and evaluation of the equipment; and (3) the solicitation and selection of sources, and the award of the contract, for procurement of the equipment. Permits the use of such authority only: (1) after the Secretary of Defense, without delegation, determines in writing that there exists a combat capability deficiency that has resulted in combat fatalities; and (2) to acquire equipment in an amount aggregating not more than $100,000,000 during a fiscal year. Directs the Secretary to notify the congressional defense committees within 15 days after each use of the acquisition authority provided in this Act.