Rapid Innovation Fund Enhancement Act of 2016

This bill amends the Ike Skelton National Defense Authorization Act for Fiscal Year 2011 to require that the Defense Research and Development Rapid Innovation program be coordinated with the senior acquisition executives of the departments, agencies, and components of the Department of Defense (DOD).

For FY2017 and each fiscal year thereafter, DOD shall obligate for eligible program technologies a minimum of 1% of the aggregate DOD research, development, test, and evaluation budget available for projects and activities at the level of Advanced Component Development Prototypes and above.

DOD shall: (1) provide Congress with annual project briefings, and (2) issue additional program operations guidelines.

"Eligible technology" means:

• a technology that has received a phase II award under the Small Business Innovation Research program or the Small Business Technology Transfer program,
• a technology developed by a nontraditional defense contractor,
• a technology developed by the defense laboratories, or
• any other innovative technology as determined by DOD.