Summary: S.2973 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for S.2973. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (05/23/2016)

This bill increases the micro-purchase threshold for activities by institutions of higher education, nonprofit research organizations, or independent research institutes under federal procurement contracts, grants, or cooperative agreements to: (1) $10,000; or (2) a higher threshold determined by the head of the relevant executive agency consistent with clean audit findings, internal institutional risk assessment, or state law. Micro-purchases at or below the threshold are exempt from certain: (1) requirements under the Small Business Act and contracting goals of the Department of Defense, the U.S. Coast Guard, or the National Aeronautics and Space Administration (NASA) to award contracts to small businesses owned and controlled by socially and economically disadvantaged individuals, historically black colleges and universities, or other minority institutions; (2) competitive quotation and price evaluation standards; and (3) Buy American requirements for the use of supplies manufactured in the United States.