HR 4895
97th Congress
House
Government Operations and Politics
Business and commerce
Government and business
Government procurement
Interest
Public Contracts, Procurement, and Property
Small business
A bill to amend the Federal Property and Administrative Services Act of 1949 to require that interest be paid on certain late payments made by Federal agencies under contracts with small business concerns and to provide that all payments under such contracts shall be paid within 6 months after completion.
Introduced: November 4, 1981
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 13, 1981
Referred to Subcommittee on Legislation and National Security.
Nov 13, 1981
Executive Comment Requested from GAO, GSA, OFPP, OMB, SBA, Treasury.
Nov 4, 1981
Referred to House Committee on Government Operations.
Nov 4, 1981
Introduced in House
Plain-English summary
Amends the Federal Property and Administrative Services Act of 1949 to require Federal agencies to pay small businesses interest on contract payments not made within 45 days after the contract has been completed. Specifies the period and rate of interest.
Directs the Secretary of the Treasury to make any contract payments not made by an agency within six months after the contract has been completed and to charge that agency's account of appropriations.
Requires each agency to report to Congress annually concerning the small business contracts for which the agency had to make interest payments or the Secretary had to make payments.
What's happening now
Referred to Subcommittee on Legislation and National Security.
Committees of jurisdiction
2
Cosponsors
1