41 U.S.C. § 4302 — Adjustment of threshold amount of covered contract
submitted 15 years ago by Pub. L. 111-350 to r/title-41-PUBLIC-CONTRACTS · 81 words · no verdicts yet
This section adjusts a threshold amount every fifth year for inflation. It converts the amount to constant fiscal-year-1994 dollars and rounds it to a multiple of $50,000.
Beginning October 1 of each year divisible by five, the amount in 41 U.S.C. §4301(2) must be adjusted to its equivalent in constant fiscal-year-1994 dollars. If the adjusted amount is not evenly divisible by $50,000, it must be rounded to the nearest $50,000. If it is divisible by $25,000 but not by $50,000, it must instead be rounded up to the next $50,000.
Effective on October 1 of each year that is divisible by 5, the amount set forth in section 4301(2) of this title shall be adjusted to the equivalent amount in constant fiscal year* 1994 dollars. An adjusted amount that is not evenly divisible by $50,000 shall be rounded to the nearest multiple of $50,000. If an amount is evenly divisible by $25,000 but is not evenly divisible by $50,000, the amount shall be rounded to the next higher multiple of $50,000.
Source credit: (Pub. L. 111–350, § 3, Jan. 4, 2011, 124 Stat. 3784.)
- 2011Enacted · Pub. L. 111-350 · 124 Stat. 3784
A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-350 on 2011-01-04.
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