10 U.S.C. § 8684a – Repair, maintenance, or overhaul of naval vessels: rate for progress payments

The Secretary of the Navy shall provide that the rate for progress payments on any contract awarded by the Secretary for repair, maintenance, or overhaul of a naval vessel shall be not less than—

(1) 95 percent, in the case of a firm considered to be a small business; and
(2) 90 percent, in the case of any other firm.

(Added and amended Pub. L. 116–283, div. A, title XVIII, § 1876(a), Jan. 1, 2021, 134 Stat. 4291.)

Codification

The text of subsec. (g)(1) of section 2307 of this title, which was transferred to this section and amended by Pub. L. 116–283, § 1876(a)(2), was based on Pub. L. 103–355, title II, § 2001(g), Oct. 13, 1994, 108 Stat. 3302.

Amendments

2021—Pub. L. 116–283, § 1876(a)(2), transferred text of subsec. (g)(1) of section 2307 of this title to this section and redesignated subpars. (A) and (B) as pars. (1) and (2), respectively.

Effective Date

Section and amendment by Pub. L. 116–283 effective Jan. 1, 2022, with additional provisions for delayed implementation and applicability of existing law, see section 1801(d) of Pub. L. 116–283, set out as an Effective Date of 2021 Amendment note preceding section 3001 of this title.