S 2852
Accelerated Payments for Small Businesses Act of 2019
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Accelerated Payments for Small Businesses Act of 2019, aims to improve how the federal government pays small businesses. It requires federal agencies to prioritize paying small business invoices quickly, specifically within 15 days of receiving a proper invoice, unless a payment date is already specified in the contract. The bill updates existing regulations to ensure agencies establish accelerated payment dates for both prime contractors and subcontractors that are small businesses. This change is intended to provide small businesses with faster access to funds and improve their cash flow.
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Primary sponsor
Martha McSally
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