[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3928 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 3928

To require certain large government contractors that receive more than 
  80 percent of their annual gross revenue from Federal contracts to 
   disclose the names and salaries of their most highly compensated 
                   officers, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 23, 2007

   Mr. Murphy of Connecticut (for himself, Mr. Welch of Vermont, Mr. 
 Waxman, Mr. Lynch, Mr. McDermott, Mr. Braley of Iowa, Mr. Hodes, Mr. 
 Hall of New York, and Mr. Olver) introduced the following bill; which 
    was referred to the Committee on Oversight and Government Reform

_______________________________________________________________________

                                 A BILL


 
To require certain large government contractors that receive more than 
  80 percent of their annual gross revenue from Federal contracts to 
   disclose the names and salaries of their most highly compensated 
                   officers, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Government Contractor Accountability 
Act of 2007''.

SEC. 2. CERTIFICATION AND OTHER FINANCIAL DISCLOSURE REQUIREMENTS FOR 
              CERTAIN GOVERNMENT CONTRACTORS.

    (a) Requirements.--
            (1) Certification or disclosure after award of contract.--
        For each contract entered into by the Federal Government with a 
        covered contractor, the contracting officer for the contract 
        shall require the contractor to submit to the contracting 
        officer, within 90 days after award of the contract, one of the 
        following:
                    (A) Certification of 80 percent or less gross 
                revenue from federal contracts.--A certification that 
                the contractor received, during the fiscal year 
                preceding the fiscal year in which the contract is 
                awarded, 80 percent or less of its annual gross 
                revenues from other contracts with the Federal 
                Government.
                    (B) Financial disclosure.--In the case of a 
                contractor that cannot make the certification described 
                in subparagraph (A), a statement disclosing the names 
                and salaries, during such preceding fiscal year, of the 
                principal executive officer, the principal financial 
                officer, the three most highly compensated other 
                executive officers or individuals, and the directors of 
                the contractor.
            (2) Annual update of financial disclosure.--For each 
        contract for which a statement described in paragraph (1)(B) is 
        submitted, the contracting officer for the contract shall 
        require the contractor to submit, during each fiscal year in 
        which the contract is being performed (after the fiscal year in 
        which the contract is awarded), a statement containing an 
        update of the information required under that paragraph, 
        covering the preceding fiscal year.
    (b) Availability.--The information required to be submitted 
pursuant to subsection (a) shall be made publicly available in 
searchable form through the Federal Procurement Data System (described 
in section 6(d)(4)(A) of the Office of Federal Procurement Policy Act 
(41 U.S.C. 406(d)(4)(A)).
    (c) Covered Contractor.--In this Act, the term ``covered 
contractor'' means, with respect to a fiscal year, an individual or 
entity--
            (1) that received more than $5,000,000 in annual gross 
        revenues from Federal contracts (or subcontracts (at any tier) 
        under Federal contracts) for the preceding fiscal year; and
            (2) that is not a publicly traded company required to file 
        periodic reports under section 13(a) or 15(d) of the Securities 
        Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d)).
    (d) Regulations.--The Administrator of General Services shall 
promulgate regulations to carry out this Act.
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