Title: Federal Small Businesses Contractor Prompt Payment Reporting Act
Policy area: Commerce

Summary:
Federal Small Businesses Contractor Prompt Payment Reporting Act
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.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7342 Introduced in House (IH)]

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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.
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