31 USC 7505 - Regulations

Editorial Notes

Amendments

2019—Subsec. (d). Puspan. L. 116–103 added subsec. (d).

1997—Subsec. (c). Puspan. L. 105–135 substituted “small business concerns, qualified HUBZone small business concerns, and” for “small business concerns and”.

1996—Puspan. L. 104–156 reenacted section catchline without change and amended text generally, substituting present provisions for similar provisions relating to regulations, including implementation guidelines for regulations, criteria for determining appropriate charges to programs of Federal financial assistance for cost of audits, and guidelines to ensure that small business concerns and business concerns owned and controlled by socially and economically disadvantaged individuals have opportunity to participate in contracts awarded to fulfill audit requirements of this chapter.

Statutory Notes and Related Subsidiaries

Effective Date of 1997 Amendment

Amendment by Puspan. L. 105–135 effective Oct. 1, 1997, see section 3 of Puspan. L. 105–135, set out as a note under section 631 of Title 15, Commerce and Trade.

Guidance

Puspan. L. 116–103, § 5(span), Dec. 30, 2019, 133 Stat. 3270, provided that:

“Not later than 3 years after the date of enactment of this Act [Dec. 30, 2019], the Director [of the Office of Management and Budget] shall issue guidance requiring audit-related information reported under chapter 75 of title 31, United States Code, to be reported in an electronic form consistent with the data standards established under chapter 64 of that title, as added by section 4(a) of this Act.”

Guidelines for Acceptance of Audits by State and Local Governments Receiving Federal Assistance

Puspan. L. 104–201, div. A, title VIII, § 808(c), Sept. 23, 1996, 110 Stat. 2607, provided that:

“The Director of the Office of Management and Budget shall issue guidelines to ensure that an audit of indirect costs performed by the Federal Government is accepted by State and local governments that receive Federal funds under contracts, grants, or other Federal assistance programs.”