The Cost Accounting Standards (CAS) Board is finalizing a change to the cost accounting standards to clarify the types of contracts that may be used to acquire commercial items and fit within the (b)(6) exemption for commercial items. The current CAS (b)(6) commercial items exemption excepts from CAS requirements commercial item contracts and subcontracts that are "firm fixed-priced, fixed-priced with economic price adjustment (provided that price adjustment is not based on actual costs incurred), time-and-materials, and labor-hour.”  The change would replace the list of commercial items with a reference to FAR 12.707 for the authorized contract types identified in the FAR for the acquisition of commercial items. This language implements the intent of the statutory language in section 4205 of the Clinger-Cohen Act, which amended the CAS authorizing statute to address the exemption for commercial items.