II 110th CONGRESS 2d Session S. 2905 IN THE SENATE OF THE UNITED STATES April 24, 2008 Mrs. McCaskill introduced the following bill; which was read twice and referred to the Committee on Homeland Security and Governmental Affairs A BILL To require disclosure by Federal contractors of certain violations relating to the award or performance of Federal contracts.

1.

Short title

This Act may be cited as the Close the Contractor Fraud Loophole Act.

2.

Revision of the Federal Acquisition Regulation

The Federal Acquisition Regulation shall be amended within 180 days after the date of the enactment of this Act pursuant to FAR Case 2007–006 (as published at 72 Fed. Reg. 64019, November 14, 2007) or any follow-on FAR case to include provisions that require timely notification by Federal contractors of violations of Federal criminal law or overpayments in connection with the award or performance of covered contracts or subcontracts, including those performed outside the United States and those for commercial items.

3.

Definition

In this Act, the term covered contract means any contract in an amount greater than $5,000,000 and more than 120 days in duration.