legislation: 97-hr-7446

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
97-hr-7446 97 hr 7446 A bill to amend title 10, United States Code, to provide for improved control of excess profits on negotiated defense contracts. Armed Forces and National Security 1982-12-17 1982-12-17 Referred to House Committee on Armed Services. House Rep. Gonzalez, Henry B. [D-TX-20] TX D G000272 0 Requires that profits on negotiated contracts of the Department of Defense be reasonable. Uses the same factors set forth in the Renegotiation Act of 1951 to determine when profits are excessive. Directs the Comptroller General to examine each such contract in excess of $10,000,000 and to certify to Congress whether the amount of profit allowed is reasonable. Requires the Comptroller General to examine the contract again upon its completion and to certify to Congress whether the amount of profit actually paid was reasonable. Directs the Comptroller General to report to Congress annually on the reasonableness of profits paid on such contracts during the preceding fiscal year. 2025-06-06T14:17:56Z  

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