Accelerated Payments for Small Businesses Act of 2019

Bill: 116-s-2852
Sponsor: full_name: Sen. McSally, Martha [R-AZ]
Introduced: 2019-11-13
Policy area: Government Operations and Politics
Subjects: Minority and disadvantaged businesses

Public contracts and procurement

Small business

Wages and earnings
Latest action: action_date: 2019-11-13
text: Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Summaries:
action_date: 2019-11-13
action_desc: Introduced in Senate
text: <p><b>Accelerated Payments for Small Businesses Act of 2019</b></p> <p>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.</p>

tv_txt: II 116th CONGRESS 1st Session S. 2852 IN THE SENATE OF THE UNITED STATES November 13, 2019 Ms. McSally introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs 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.

1. Short title This Act may be cited as the Accelerated Payments for Small Businesses Act of 2019 . 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 at the end; (3) in paragraph (9), by striking the period at the end and inserting a semicolon; and (4) by adding at the end the following: (10) for 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 )), to the fullest extent permitted by law, require that the head of an agency 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 of title 41) that subcontracts with a small business concern (as defined in section 3 of the Small Business Act ( 15 U.S.C. 632 )), to the fullest extent permitted by law, require that the head of an agency 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) the prime contractor agrees to make payments to the subcontractor in accordance with the accelerated payment date, to the maximum extent practicable, without any further consideration from or fees charged to the subcontractor. .