Title: Accelerated Payments for Small Businesses Act of 2018
Policy area: Government Operations and Politics

Summary:
Accelerated Payments for Small Businesses Act of 2018
This bill establishes a goal for federal agencies to pay small business invoices within 15 days of receiving a proper invoice if a specific payment date is not established by contract.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5337 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 5337

  To amend section 3903 of title 31, United States Code, to establish 
    accelerated payments applicable to contracts with certain small 
               business concerns, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 20, 2018

Mr. Knight (for himself, Mr. Espaillat, Mr. Chabot, and Ms. Velazquez) 
 introduced the following bill; which was referred to the Committee on 
                    Oversight and Government Reform

_______________________________________________________________________

                                 A BILL


 
  To amend section 3903 of title 31, United States Code, to establish 
    accelerated payments applicable to contracts with 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 ``Accelerated Payments for Small 
Businesses Act of 2018''.

SEC. 2. ACCELERATED PAYMENTS APPLICABLE TO CONTRACTS WITH CERTAIN SMALL 
              BUSINESS CONCERNS UNDER THE PROMPT PAYMENT ACT.

    Section 3903(a) of title 31, United States Code, is amended--
            (1) in paragraph (1)(B), by inserting ``except as provided 
        in paragraphs (10) and (11),'' before ``30 days'';
            (2) in paragraph (8), by striking ``and'';
            (3) in paragraph (9), by striking the period at the end; 
        and
            (4) by adding at the end the following new paragraphs:
            ``(10) for a prime contractor (as defined in section 
        8701(5) of title 41) that is a small business concern (as 
        defined under section 3 of the Small Business Act (15 U.S.C. 
        632)), to the fullest extent permitted by law, establish an 
        accelerated payment date with a goal of 15 days after a proper 
        invoice for the amount due is received if a specific payment 
        date is not established by contract; and
            ``(11) for a prime contractor (as defined in section 
        8701(5) of title 41) that subcontracts with a small business 
        concern (as defined under section 3 of the Small Business Act 
        (15 U.S.C. 632)), to the fullest extent permitted by law, 
        establish an accelerated payment date with a goal of 15 days 
        after a proper invoice for the amount due is received if--
                    ``(A) a specific payment date is not established by 
                contract; and
                    ``(B) such prime contractor agrees to make payments 
                to such subcontractor in accordance with such 
                accelerated payment date, to the maximum extent 
                practicable, without any further consideration from or 
                fees charged to such subcontractor.''.
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