H.R. 5712 · 110th Congress
Close the Contractor Fraud Loophole Act
- Stage
- Passed a chamber
- Sponsor
- Peter Welch
- Introduced
- 2008-04-03
- Latest action
- 2008-04-30 · Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Summary
Close the Contractor Fraud Loophole Act - Requires a government contractor that has reasonable grounds to believe it has violated a criminal law or received a significant overpayment in connection with the award or performance of a covered contract to notify the Office of Inspector General of the awarding executive agency. Defines a covered contract as one for more than $5 million and 120 days' duration.
Requires a contractor to submit such notification within 14 days of becoming aware of the violation or overpayment. Provides for disbarment or suspension for knowingly failing to notify.