PROMPT PAYMENT ACT AMENDMENTS OF 1988, S. 328

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP89T00234R000200280005-1
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 2
• Document Creation Date: December 27, 2016
• Document Release Date: February 19, 2013
• Sequence Number: 5
• Publication Date: October 14, 1988
• Content Type: MEMO

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Declassified in Part - Sanitized Copy Approved for Release 2013/02/19: CIA-RDP89T00234R000200280005-1
14 October 1988
OCA 3452-88
MEMORANDUM FOR: Chief, Logistics & Procurement Law Division/OGC
Chief, Administrative Law Division/OGC
Director of Finance
FROM:
Legislation Division STAT
Office of Congressional Affairs
SUBJECT: Prompt Payment Act Amendments of 1988, S. 328
1. Attached for your information is a copy of the above-
captioned bill, which has .been passed by both houses of Congress
and presented to the President for signature.
2. If you have any quesetions, please telephone me on
Attachment
OCA/LEG/
Distribution:
Original - Addressees
1 - D/OCA
1 - DDL/OCA
1 -
I.- OCA Records
F?u_procL-ir er --nen t/Srna
1 - RMH?Sagner
1 - OCA Read
STAT
STAT
(14 October 1988) STAT
Declassified in Part - Sanitized Copy Approved for Release 2013/02/19: CIA-RDP89T00234R000200280005-1
STAT
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/ Declassified in Part - Sanitized Copy Approved for Release 2013/02/19: CIA-RDP89T00234R000200280005-1
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LEGI-SLATE Report for the 100th CongresS Thu, October 13, 1988 4:08pm (EDT)
Report for S.328 Prompt Payment Act Amendments of 1988
As finally approved by the House and Senate (Enrolled), AT THE SECOND
SESSION
Complete Text of this version
S,328
One Hundredth Congress of the United States of America
AT THE SECOND SESSION
Begun and held at the City of Washington on Monday.
the twenty-fifth day of January, one thousand nine hundred and eighty-eight
An Act
To amend chapter 39 of title 31, United States Code, to require the
Federal Govern- ment to pay 'interest on, overdue payments, and for other
purposes.
BE it enacted by the Senate and House of Representatives of the United
States of America in Congress assembled,
Short Title
Section 1. This Act may be cited as the "Prompt Payment Act Amendments of
19SS".
Definitions and Application
Sec. 2. (a) Section 17901(a)(4) of title 31, United States Code, is amended
to read as-follows:
"(4) -For the purposes of determining a payment due date and the date
upon which any late payment interest penalty shall .begin to accrue, the
head of the agency is deemed to receive an invoice-- ?
(A) ,on the later of--
"(i) the date on which the place or person designated by the
agency to first receive such invoice actually receives a proper
invoice; OF
"(ii) on the 7th day after the date on. which, in accordance with
the terms and conditions of the .contract, the property is. actually
delivered or performance of the services is actually completed, as
the case may be, unless--
"(I) the agency has actually accepted such property or
services 'before. such 7th day; or
"(II) the contract (except in the case of a contract for the
procurement of a brand-name commercial item for authorized
resale) specifies a longer acceptance period, as determined by
the contracting officer to be required to afford the agency a
Declassified in Part - Sanitized Copy Approved for Release 2013/02/19: CIA-RDP89T00234R000200280005-1