H.R.5651 - Renegotiation Act Amendments of 198197th Congress (1981-1982)
|Sponsor:||Rep. Minish, Joseph G. [D-NJ-11] (Introduced 03/01/1982)|
|Committees:||House - Banking, Finance, and Urban Affairs|
|Latest Action:||House - 08/04/1982 Subcommittee Hearings Held. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5651 — 97th Congress (1981-1982)All Information (Except Text)
Introduced in House (03/01/1982)
Renegotiation Act Amendments of 1981 - Reinstates until September 30, 1986, the Renegotiation Act of 1951 (providing for review of defense contractors' profits).
Makes the Act inapplicable to amounts received by contractors from October 1, 1976, through the date of enactment.
Requires renegotiation to be conducted by division and major product line, rather than by total aggregate sales.
Increases from $1,000,000 to $5,000,000 the aggregate fiscal year renegotiable sales amount which makes contractors and subcontractors covered by the Act.