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House Bill 7342
116th Congress(2019-2020)
Federal Small Businesses Contractor Prompt Payment Reporting Act
Introduced
Introduced
Introduced in House on Jun 25, 2020
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Introduced in House 
Jun 25, 2020
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Introduced in House(Jun 25, 2020)
Jun 25, 2020
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Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
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H. R. 7342 (Introduced-in-House)


116th CONGRESS
2d Session
H. R. 7342


To require a report on accelerated payments to certain small business concerns, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

June 25, 2020

Mr. Crow (for himself and Mr. Balderson) introduced the following bill; which was referred to the Committee on Small Business

A BILL

To require a report on accelerated payments to certain small business concerns, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Federal Small Businesses Contractor Prompt Payment Reporting Act”.

SEC. 2. Report on accelerated payments to certain small business concerns.

(a) Report.—Not later than 3 months after the date of the enactment of this Act, the head of each Federal agency shall submit to Congress a report on the timeliness of payments made to a covered prime contractor. Such report shall include—

(1) the date on which the Federal agency began providing accelerated payments in accordance with section 2307(a)(2) of title 10, United States Code, or paragraphs (10) and (11) of section 3903(a) of title 31, United States Code, as applicable, to a covered prime contractor;

(2) of contracts to which such sections apply, the amount and percentage of covered contracts with accelerated payment terms in accordance with such sections; and

(3) whether and on what date the agency discontinued implementation of the Office of Management and Budget Circular M–11–32 titled “Accelerating Payments to Small Businesses for Goods and Services” (issued September 14, 2011).

(b) Definitions.—In this Act:

(1) COVERED PRIME CONTRACTOR.—The term “covered prime contractor” means—

(A) a prime contractor (as defined in section 8701 of title 41) that is a small business concern (as defined in section 3 of the Small Business Act (15 U.S.C. 632)); and

(B) a prime contractor that subcontracts with a small business concern.

(2) COVERED CONTRACT.—The term “covered contract” means a contract entered into by a covered prime contractor—

(A) on or after August 13, 2018, with respect to a contract entered into the head of an agency (as defined in section 2302 of title 10, United States Code); or

(B) on or after December 20, 2019, with respect to a contract entered into with the head of an agency (as defined in section 3901 of title 31, United States Code).

(3) FEDERAL AGENCY.—The term “Federal agency” has the meaning given “agency” in section 551(a) of title 5, United States Code.