Acquisition System Improvement Act

Acquisition System Improvement Act - Authorizes the assignment from a Federal agency to a private sector organization, or from a private sector to a Federal agency, of employees who work in Federal acquisition or acquisition management, who are considered exceptional performers, and who are expected to assume increased acquisition management responsibilities.

Modifies share-in-savings contract authority with respect to defense contracts and under the Federal Property and Administrative Services Act of 1949 to remove provisions limiting the use of such contracts to information technology.

Requires inflation adjustments to acquisition-related dollar thresholds.

Extends through FY 2009 the use of special simplified procedures for purchases of commercial items in excess of the simplified acquisition threshold.

Mandates that the Federal Acquisition Regulation be revised to require, in the procurement of telecommunications services, that such services include redundant and separate points of entry and diverse local network facilities.

Establishes in: (1) the Department of Defense the Department of Defense Board of Contract Appeals; and (2) the General Services Administration the Civilian Board of Contract Appeals to resolve Federal contract disputes.

Requires procedures for expediting the disposition of appeals in cases of small business concerns where the disputed amount is $150,000 or less.

Makes the authority of the Defense and Civilian Boards applicable to: (1) contracts at or below the simplified acquisition threshold; and (2) contracts for the procurement of commercial items.

Transfers personnel, funds, and property of the: (1) Armed Services Board of Contract Appeals to the Defense Board of Contract Appeals; and (2) other Boards of Contract Appeals (with exceptions) to the Civilian Board of Contract Appeals.

Specifies the jurisdiction of the Defense and Civilian Boards.

Establishes the Postal Service Board of Contract Appeals (having jurisdiction respecting the U.S. Postal Service and the Postal Rate Commission).