Responsibility in Federal Contracts Act

Bill Number

HR 5635

Introduced

Oct 10, 2002

Latest Action

Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, for a period to be subs ...

Sponsor

Cosponsors

Topics

Accounting Accounting and financial statements Business records Commerce Corporate collapse Corporate governance Corporation directors Debarment of government contractors Executives Finance and Financial Sector Financial statements Government Operations and Politics Government paperwork Government publicity Information disclosure (Securities law) Securities regulation Subcontractors

Full Text

View Full Bill Text

Votes

Summary

Responsibility in Federal Contracts Act - Prohibits the Federal government from entering into, or approving any subcontract under, a contract with any company filing certain periodic reports under the Securities Exchange Act of 1934 if, before the date on which the contract is expected to be awarded, a specified certification required under the Sarbanes-Oxley Act of 2002 has not been made for the most recent periodic report due before such date.

Retains such prohibition for the one-year period beginning on the date that the most recent periodic report was due.

Authorizes the President to waive the prohibition if he determines that it is in the national security interest.

Requires the Securities and Exchange Commission to make available to the public on a quarterly basis a list of companies that have failed to make the certification required under the Sarbanes-Oxley Act of 2002.

Actions

Oct 21, 2002

Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, for a period to be subsequently determined by the Chairman.
Oct 10, 2002

Referred to the Committee on Government Reform, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Oct 10, 2002

Introduced in House

Amendments

Related Bills