To require contractors to make timely payments to subcontractors that are small business concerns.

1. Adds SEC. 889. TIMELY PAYMENT OF SMALL BUSINESS CONCERNS at the end of subtitle E of title VIII

   Adds a section

   In S. 1867 · Placed on Calendar Senate

   (2) An identification of the fire-resistance or fire- retardant properties or capabilities of fibers and materials (whether domestic or foreign) otherwise available in the United States that are suitable for use in the production of military products that require such properties or capabilities, and an assessment of the sufficiency, adequacy, availability, and cost of such fibers and materials for that purpose.

   Inserted: SEC. 889. TIMELY PAYMENT OF SMALL BUSINESS CONCERNS.

   Inserted: (a) In General.--Section 15 of the Small Business Act (15 U.S.C. 644) is amended by adding at the end the following:

   Inserted: "(s) Regulations Relating to Timely Payments.--

   Inserted: "(1) Regulations required.--Not later than 1 year after the date of enactment of this subsection, the Director of the Office of Management and Budget, in consultation with the Administrator, shall issue regulations that require any prime contractor awarded a contract by the Federal Government to make timely payments to subcontractors that are small business concerns.

   Inserted: "(2) Considerations.--In issuing the regulations under paragraph (1), the Director of the Office of Management and Budget, in consultation with the Administrator, shall consider--

   Inserted: "(A) requiring a prime contractor to pay a subcontractor that is a small business concern not later than 30 days after the date on which the prime contractor receives a payment from the Federal Government;

   Inserted: "(B) developing--

   Inserted: "(i) incentives for prime contractors that pay subcontractors in accordance with the regulations; or

   Inserted: "(ii) penalties for prime contractors that do not pay subcontractors in accordance with the regulations; and

   Inserted: "(C) requiring that any subcontracting plan under paragraph (4) or (5) of section 8(d) contain a detailed description of when and how each subcontractor will be paid.".

   Inserted: (b) Technical and Conforming Amendments.--Section 8(d)(6) of the Small Business Act (15 U.S.C. 638(d)(6)) is amended--

   Inserted: (1) in subparagraph (F), by striking "and" at the end;

   Show 3 more inserted paragraphsShow less

   Inserted: (2) in subparagraph (G)(ii), by striking the period at the end and inserting "; and"; and

   Inserted: (3) by adding at the end the following:

   Inserted: "(H) any information required to be included under the regulations issued under section 15(s).".

   Original wording

   At the end of subtitle E of title VIII, add the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed