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S 2479 99th Congress Senate Government Operations and Politics Administrative procedure Government contractors Government procurement Government service contracts Interest Postal Services and Facilities Postal service Public Contracts, Procurement, and Property United States Postal Service

Prompt Payment Amendments of 1986

Introduced: May 21, 1986 See on congress.gov
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 Everywhere this bill has been 12 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 18, 1986
Referred to House Committee on Government Operations.
Oct 15, 1986
Passed Senate with an amendment by Voice Vote.
Oct 15, 1986
Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.
Oct 15, 1986
Measure laid before Senate by unanimous consent.
Oct 2, 1986
Placed on Senate Legislative Calendar under General Orders. Calendar No. 1071.
Oct 2, 1986
Committee on Governmental Affairs. Reported to Senate by Senator Roth with an amendment in the nature of a substitute. Without written report.
Oct 2, 1986
Committee on Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Aug 14, 1986
Subcommittee on Oversight of Government Management. Approved for full committee consideration without amendment favorably.
Jul 14, 1986
Committee on Governmental Affairs received executive comment from Small Business Administration.
Jun 26, 1986
Committee on Governmental Affairs requested executive comment from GSA, NASA, SBA, GAO, OMB, Defense Department.
May 21, 1986
Read twice and referred to the Committee on Governmental Affairs.
May 21, 1986
Introduced in Senate
 Plain-English summary Congressional Research Service

Prompt Payment Amendments of 1986 - Revises Federal law to deem the head of an agency to receive an invoice on the fifth day after the date on which a property is actually delivered, or final performance of a service is actually completed, unless the contract specifies otherwise.

Makes Federal prompt payment provisions applicable to the United States Postal Service.

Reduces the 15-day grace period for payment of interest penalties to eight days for solicitations issued before October 1, 1988. Requires an agency to pay a double interest penalty if it fails to meet such grace period and the business concern makes a written demand that the agency pay such penalty. Makes the interest penalty provisions applicable to construction contracts for progress payments and retained amounts.

Specifies the calculation of time for interest penalties on discount payments.

Revises agency reporting requirements on interest penalty payments to include a description of agency payment practices.

Requires the modification of Government-wide procurement regulations to implement Federal prompt payment provisions.

What's happening now October 18, 1986

Referred to House Committee on Government Operations.

 Committees of jurisdiction 3
 Cosponsors 1
All 1 Republican 1