Hurricane Katrina Accountability and Contracting Reform Act - Establishes in the legislative branch the bipartisian Independent Commission to Prevent Fraud and Abuse in the Response to Hurricane Katrina to conduct a complete, independent, and impartial investigation of federal government contracting relative to Hurricane Katrina recovery, relief, and reconstruction, as well as allegations of price gouging or profiteering.
Requires a federal agency head, within 14 days after the award of a Hurricane-related contract, to make publicly available, including by posting on the Internet in a searchable database, specified information with respect to the contract, including the name and address of the contractor and the contract's total amount.
Requires federal agency heads to provide certain contract-related information to Congress, including copies of the contract and all modifications.
Prohibits the federal government from entering into a Hurricane Katrina-related monopoly contract, with certain exceptions.
Requires the federal government to use competition in the purchase of goods and services in excess of $100,000 pursuant to any Hurricane Katrina-related multiple award contract.
Prohibits an agency from entering into a Hurricane Katrina-related contract for the performance of a function relating to contract oversight wtih any contractor with a conflict of interest.
Prohibits an agency from entering into a Hurricane Katrina-related contract for the performance of inherently governmental functions for contract oversight.
Revises the prohibition against a former official's acceptance of compensation from a contractor.
Prevents former employees of private contractors who become federal government employees from awarding government contracts to their former employers for a period of five years after leaving the private contractor's employ .
Subjects additional offenses to criminal penalties.
Amends the Second Emergency Supplemental Appropriations Act to Meet Immediate Needs Arising from the Consequences of Hurricane Katrina to repeal the $250,000 micropurchase threshold (thus applying the regular $2,500 micropurchase threshold of federal procurement law).