HR 2036
97th Congress
House
Government Operations and Politics
Business and commerce
Federal aid programs
Government and business
Government procurement
Interest
Public Contracts, Procurement, and Property
A bill to require the United States Government and persons carrying on Federally assisted programs, projects, and activities to pay interest to business concerns for overdue sales and lease agreement payments, and to take early payment discounts only when payment is timely made.
Introduced: February 24, 1981
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Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 2, 1981
Referred to Subcommittee on Legislation and National Security.
Mar 2, 1981
Executive Comment Requested from GSA, OMB, GSA, Off. of Fed Procurement Policy.
Feb 24, 1981
Referred to House Committee on Government Operations.
Feb 24, 1981
Introduced in House
Plain-English summary
Requires the Federal Government and persons conducting federally assisted programs, projects, and activities to pay interest to business concerns for overdue sales and lease agreement payments not made by the thirtieth day after the bill for such payment is received. Specifies the procedure for computing such interest. Stipulates that overdue payments for meat, groceries, and perishables shall be determined in accordance with terms commonly offered meat, grocery, and perishable industries.
Entitles the Government and such persons to early payment discounts only if payments are made within the prescribed periods.
What's happening now
Referred to Subcommittee on Legislation and National Security.
Committees of jurisdiction
2
Cosponsors
1