Description: TO PASS H.R. 5541, A BILL GRANTING RELIEF TO SMALL BUSINESS CONCERNS WHICH ARE UNABLE TO PERFORM FIXED PRICE GOVERNMENT CONTRACT BECAUSE OF INFLATION.
Bill summary: (Conference report filed in House, H. Rept. 94-724)
Small Business Emergency Relief Act - Declares it to be the policy of Congress to provide relief to small business concerns which have fixed-price Government contracts where such concerns encounter performance difficulties because of the energy crisis or rapid and unexpected escalations of contract costs.
Provides that pursuant to an application by a small business concern the head of any executive agency may terminate for the convenience of
the Government any fixed-price contract between that agency and such small business concern upon a finding that specified cost difficulties are shown. Declares that such authority expires on September 30, 1976.
Permits delays in contract performance resulting from the energy shortage to be deemed excusable delay under the default terms in the contract.
Requires enumerated pieces of documentation to support any such request for relief by a small business concern, including a history of performance under the contract, statements of costs and profits, and balance sheets.
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Bill titles: A bill to provide for emergency relief for small business concerns in connection with fixed price Government contracts.
Original source documents: Digest of the Congressional Record vol. 121-159, p. S18993;
Links for more info on the vote: congress.gov