Prompt Payment Act

Summary

Delinquent Payments Act of 1981 - Requires Federal agencies to pay interest on overdue payments to businesses for property or services. Specifies the procedure for computing such interest. Requires an agency to pay any such interest charges out of funds appropriated for its programs. Allows an agency to take advantage of an early payment discount only if payment is made within the time specified by the business. Directs each agency to report to Congress annually on interest payments made during the fiscal year.

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Documents

5 official files

• Public Law (PDF)

  Public Law · EN · 22 May 1982

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• Passed House amended

  summary · EN · 23 March 1982

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• Passed Senate amended

  summary · EN · 15 December 1981

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• Reported to Senate with amendment(s)

  summary · EN · 14 December 1981

  Open at official source

• Introduced in Senate

  summary · EN · 6 May 1981

  Open at official source

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