H.R.5635 - Responsibility in Federal Contracts Act107th Congress (2001-2002)
|Sponsor:||Rep. Strickland, Ted [D-OH-6] (Introduced 10/10/2002)|
|Committees:||House - Government Reform; Financial Services|
|Latest Action:||10/21/2002 Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, for a period to be subsequently determined by the Chairman. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5635 — 107th Congress (2001-2002)All Bill Information (Except Text)
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.
Introduced in House (10/10/2002)
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.