HR 2740
109th Congress
House
Government Operations and Politics
Commerce
Contracts
Government contractors
Government paperwork
Government publicity
Small business
Subcontractors
Prompt Payment Improvement Act of 2005
Introduced: May 26, 2005
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 26, 2005
Referred to the House Committee on Government Reform.
May 26, 2005
Introduced in House
Plain-English summary
Prompt Payment Improvement Act of 2005 - Requires: (1) the Director of the Office of Management and Budget to set forth in writing the prompt payment policy applicable to subcontractors under Federal contracts; and (2) the head of each Federal agency to provide a copy of such policy to each contractor and to require each contractor to provide a copy to each subcontractor.
Directs each agency head to require contractors to include in each subcontract a clause containing: (1) the requirements and penalties relating to the timely payment obligations of the Government and prime contractors; (2) the name and number of a senior employee with authority to resolve progress payment questions; and (3) the obligations of the Office of Small and Disadvantaged Business Utilization in assisting small business contractors and subcontractors in receiving prompt payments.
What's happening now
Referred to the House Committee on Government Reform.
Committees of jurisdiction
1
Cosponsors
1