Prohibits Government contracts to which cost accounting standards under the Defense Production Act of 1950 are applicable from treating the contractor's costs for facilities capital as allowable costs. Prohibits, under such contracts, facilities capital costs from being considered as incurred by the contractor.
States that the cost accounting standard (4 C.F.R. 414) issued by the Cost Accounting Standards Board under the Defense Production Act of 1950, effective October 1, 1976, shall not apply to any contract for which a request for proposal is issued after enactment of this Act.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Economic Stabilization.
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