2011 US Code
Title 41 - Public Contracts
Subtitle I - Federal Procurement Policy (§§ 101 - 4711)
Division B - Office of Federal Procurement Policy (§§ 1101 - 2313)
Chapter 15 - COST ACCOUNTING STANDARDS (§§ 1501 - 1506)
Section 1502 - Cost accounting standards
View MetadataPublication Title | United States Code, 2006 Edition, Supplement 5, Title 41 - PUBLIC CONTRACTS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 41 - PUBLIC CONTRACTS Subtitle I - Federal Procurement Policy Division B - Office of Federal Procurement Policy CHAPTER 15 - COST ACCOUNTING STANDARDS Sec. 1502 - Cost accounting standards |
Contains | section 1502 |
Date | 2011 |
Laws in Effect as of Date | January 3, 2012 |
Positive Law | Yes |
Disposition | standard |
Source Credit | Pub. L. 111-350, §3, Jan. 4, 2011, 124 Stat. 3696. |
Statutes at Large References | 102 Stat. 4060, 4061 108 Stat. 3326 110 Stat. 656 113 Stat. 701 119 Stat. 3386 124 Stat. 3696 |
Public Law References | Public Law 93-400, Public Law 100-679, Public Law 103-355, Public Law 104-106, Public Law 106-65, Public Law 109-163, Public Law 111-350 |
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(a)
(1)
(2)
(b)
(1)
(A)
(B)
(C)
(i) a contract or subcontract for the acquisition of a commercial item;
(ii) a contract or subcontract where the price negotiated is based on a price set by law or regulation;
(iii) a firm, fixed-price contract or subcontract awarded on the basis of adequate price competition without submission of certified cost or pricing data; or
(iv) a contract or subcontract with a value of less than $7,500,000 if, when the contract or subcontract is entered into, the segment of the contractor or subcontractor that will perform the work has not been awarded at least one contract or subcontract with a value of more than $7,500,000 that is covered by the standards.
(2)
(A) exempt classes of contractors and subcontractors from the requirements of this chapter; and
(B) establish procedures for the waiver of the requirements of this chapter for individual contracts and subcontracts.
(3)
(A)
(i) is primarily engaged in the sale of commercial items; and
(ii) would not otherwise be subject to the cost accounting standards under this section.
(B)
(C)
(D)
(i) criteria for selecting an official to be delegated authority to grant waivers under subparagraph (A) or (B); and
(ii) the specific circumstances under which the waiver may be granted.
(E)
(c)
(1) take into account, after consultation and discussions with the Comptroller General, professional accounting organizations, contractors, and other interested parties—
(A) the probable costs of implementation, including any inflationary effects, compared to the probable benefits;
(B) the advantages, disadvantages, and improvements anticipated in the pricing and administration of, and settlement of disputes concerning, contracts; and
(C) the scope of, and alternatives available to, the action proposed to be taken;
(2) prepare and publish a report in the Federal Register on the issues reviewed under paragraph (1);
(3)(A) publish an advanced notice of proposed rulemaking in the Federal Register to solicit comments on the report prepared under paragraph (2);
(B) provide all parties affected at least 60 days after publication to submit their views and comments; and
(C) during the 60-day period, consult with the Comptroller General and consider any recommendation the Comptroller General may make; and
(4) publish a notice of proposed rulemaking in the Federal Register and provide all parties affected at least 60 days after publication to submit their views and comments.
(d)
(e)
(f)
(1) disclose in writing their cost accounting practices, including methods of distinguishing direct costs from indirect costs and the basis used for allocating indirect costs; and
(2) agree to a contract price adjustment, with interest, for any increased costs paid to the contractor or subcontractor by the Federal Government because of a change in the contractor's or subcontractor's cost accounting practices or a failure by the contractor or subcontractor to comply with applicable cost accounting standards.
(g)
(Pub. L. 111–350, §3, Jan. 4, 2011, 124 Stat. 3696.)
Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
---|---|---|
1502(a) | 41:422(f)(1), (3). | Pub. L. 93–400, §26(f), as added Pub. L. 100–679, §5(a), Nov. 17, 1988, 102 Stat. 4060; Pub. L. 103–355, title II, §2453, title VIII, §8301(d), Oct. 13, 1994, 108 Stat. 3326, 3397; Pub. L. 104–106, title XLII, §4205, title XLIII, §4321(h)(4), Feb. 10, 1996, 110 Stat. 656, 675; Pub. L 106–65, title VIII, §802(a), (b), Oct. 5, 1999, 113 Stat. 701; Pub. L 109–163, div. A, title VIII, §822, Jan. 6, 2006, 119 Stat. 3386. |
1502(b)(1) | 41:422(f)(2), (4). | |
1502(b)(2) | 41:422(f)(4). | |
1502(b)(3) | 41:422(f)(5). | |
1502(c) | 41:422(g)(1). | Pub. L. 93–400, §26(g), (h)(1), as added Pub. L. 100–679, §5(a), Nov. 17, 1988, 102 Stat. 4061. |
1502(d) | 41:422(g)(2) (1st, 2d sentences). | |
1502(e) | 41:422(g)(2) (last sentence). | |
1502(f) | 41:422(h)(1). | |
1502(g) | 41:422(g)(3). |
In subsection (a)(1), the word “make” is omitted as being included in “prescribe”.
In subsection (b)(2)(A), the word “categories” is omitted as being included in “classes”.
In subsection (b)(3)(A)(ii), the words “as in effect on or after the effective date of this paragraph” are omitted as obsolete.
Effective Date of Amendment by Pub. L. 106–65; Regulations; Implementation; ConstructionPub. L. 106–65, div. A, title VIII, §802(c)–(e), (g)–(i), Oct. 5, 1999, 113 Stat. 701, 702, provided that:
“(c)
“(2) Paragraph (1) requires only a change of the statement of a threshold condition in the regulation referred to by section number in that paragraph, and shall not be construed as—
“(A) a ratification or expression of approval of—
“(i) any aspect of the regulation; or
“(ii) the manner in which section 26 of the Office of Federal Procurement Policy Act [now 41 U.S.C. 1501 et seq.] is administered through the regulation; or
“(B) a requirement to apply the regulation.
“(d)
“(e)
“(2) Subsection (c) shall cease to be effective one year after the date on which final regulations issued in accordance with that subsection take effect.
“(g)
“(h)
“(1) any educational institution or federally funded research and development center that is associated with an educational institution in accordance with Office of Management and Budget Circular A–21, as in effect on January 1, 1999; or
“(2) any contract with a nonprofit entity that provides research and development and related products or services to the Department of Defense.
“(i)
“(1) contracts that are entered into on or after such effective date; and
“(2) determinations made on or after such effective date regarding whether a segment of a contractor or subcontractor is subject to the cost accounting standards under section 26(f) of the Office of Federal Procurement Policy Act ([former] 41 U.S.C. 422(f)) [now 41 U.S.C. 1502(a), (b)], regardless of whether the contracts on which such determinations are made were entered into before, on, or after such date.”
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