H.R. 5503 (99th): Prompt Payment Amendments of 1986

Introduced:
Sep 11, 1986 (99th Congress, 1985–1986)
Status:
Died (Referred to Committee)
See Instead:

S. 2479 (same title)
Passed Senate — Oct 15, 1986

Sponsor
Thomas Kindness
Representative for Ohio's 8th congressional district
Party
Republican
Related Bills
S. 2479 (identical)

Passed Senate
Last Action: Oct 15, 1986

 
Status

This bill was introduced on September 11, 1986, in a previous session of Congress, but was not enacted.

Progress
Introduced Sep 11, 1986
Referred to Committee Sep 11, 1986
 
Full Title

A bill to amend chapter 39 of title 31, United States Code, to require the Federal Government to pay interest on overdue payments, and for other purposes.

Summary

No summaries available.

Cosponsors
none
Committees

House Oversight and Government Reform

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


9/11/1986--Introduced.
Prompt Payment Amendments of 1986 - Revises Federal law to deem the head of an agency to receive an invoice on the fifth day after the date on which a property is actually delivered, or final performance of a service is actually completed, unless the contract specifies otherwise.
Makes Federal prompt payment provisions applicable to the United States Postal Service. Reduces the 15-day grace period for payment of interest penalties to eight days for solicitations issued before October 1, 1988.
Requires an agency to pay a double interest penalty if it fails to meet such grace period and the business concern makes a written demand that the agency pay such penalty.
Makes the interest penalty provisions applicable to construction contracts for progress payments and retained amounts.
Specifies the calculation of time for interest penalties on discount payments.
Revises agency reporting requirements on interest penalty payments to include a description of agency payment practices.
Requires the modification of Government-wide procurement regulations to implement Federal prompt payment provisions.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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