Bill
Bill > HR7342
summary
Introduced
06/25/2020
06/25/2020
In Committee
06/25/2020
06/25/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To require a report on accelerated payments to certain small business concerns, and for other purposes. This bill requires each federal agency to report to Congress on the timeliness, including acceleration, of payments made to a prime contractor that is a small business or that subcontracts with a small business.
AI Summary
This bill, the Federal Small Businesses Contractor Prompt Payment Reporting Act, requires each federal agency to report to Congress on the timeliness of payments made to prime contractors that are small businesses or that subcontract with small businesses. The report must include the date the agency began providing accelerated payments, the amount and percentage of covered contracts with accelerated payment terms, and whether the agency has discontinued implementation of the Office of Management and Budget's policy on accelerating payments to small businesses. The key terms are "covered prime contractor" (a small business prime contractor or one that subcontracts with a small business) and "covered contract" (a contract entered into on or after August 13, 2018 for Department of Defense contracts or December 20, 2019 for other federal contracts).
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Referred to the House Committee on Small Business. (on 06/25/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/7342/all-info |
| BillText | https://www.congress.gov/116/bills/hr7342/BILLS-116hr7342ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr7342/BILLS-116hr7342ih.pdf.pdf |
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