The "Skills-Based Federal Contracting Act" aims to amend contractor education requirements for federal contracts. The Act prohibits minimum education requirements in solicitations unless there's a written justification by the contracting officer explaining the necessity and method for meeting agency needs. The Director of the Office of Management and Budget must issue guidance for implementing these changes within 180 days of the Act's enactment. The amendments will apply to solicitations issued 15 months after the Act's enactment. A report evaluating agency compliance must be submitted to Congress within 3 years of the Act's enactment. The Act includes definitions of education, education requirements, and executive agency.