41 U.S.C. § 431a : US Code - Section 431A: Inflation adjustment of acquisition-related dollar thresholds

Search 41 U.S.C. § 431a : US Code - Section 431A: Inflation adjustment of acquisition-related dollar thresholds

(a) Requirement for periodic adjustment
(1) On October 1 of each year that is evenly divisible by five,
the Federal Acquisition Regulatory Council shall adjust each
acquisition-related dollar threshold provided by law, as described
in subsection (c) of this section, to the baseline constant dollar
value of that threshold.
(2) For the purposes of paragraph (1), the baseline constant
dollar value -
(A) for a dollar threshold in effect on October 1, 2000, that
was first specified in a law that took effect on or before such
date shall be the October 1, 2000, constant dollar value of that
dollar threshold; and
(B) for a dollar threshold specified in a law that takes effect
after October 1, 2000, shall be the constant dollar value of that
threshold as of the effective date of that dollar threshold
pursuant to such law.
(b) Adjustments effective upon publication
The Federal Acquisition Regulatory Council shall publish a notice
of the adjusted dollar thresholds under this section in the Federal
Register. The adjusted dollar thresholds shall take effect on the
date of publication.
(c) Acquisition-related dollar thresholds
Except as provided in subsection (d) of this section, the
requirement for adjustment under subsection (a) of this section
applies to a dollar threshold that is specified in law as a factor
in defining the scope of the applicability of a policy, procedure,
requirement, or restriction provided in that law to the procurement
of property or services by an executive agency, as determined by
the Federal Acquisition Regulatory Council.
(d) Excluded thresholds
Subsection (a) of this section does not apply to -
(1) dollar thresholds in sections 3141 through 3144, 3146, and
3147 of title 40;
(2) dollar thresholds in the Service Contract Act of 1965 (41
U.S.C. 351, et seq.); or
(3) dollar thresholds established by the United States Trade
Representative pursuant to title III of the Trade Agreements Act
of 1979 (19 U.S.C. 2511 et seq.).
(e) Calculation of adjustments
An adjustment under this section shall -
(1) be calculated on the basis of changes in the Consumer Price
Index for all-urban consumers published monthly by the Department
of Labor; and
(2) be rounded -
(A) in the case of a dollar threshold that (as in effect on
the day before the adjustment) is less than $10,000, to the
nearest $500;
(B) in the case of a dollar threshold that (as in effect on
the day before the adjustment) is not less than $10,000, but is
less than $100,000, to the nearest $5,000;
(C) in the case of a dollar threshold that (as in effect on
the day before the adjustment) is not less than $100,000, but
is less than $1,000,000, to the nearest $50,000; and
(D) in the case of a dollar threshold that (as in effect on
the day before the adjustment) is $1,000,000 or more, to the
nearest $500,000.
(f) Petition for inclusion of omitted threshold
(1) If a dollar threshold adjustable under this section is not
included in a notice of adjustment published under subsection (b)
of this section, any person may request adjustment of that dollar
threshold by submitting a petition for adjustment to the
Administrator for Federal Procurement Policy.
(2) Upon receipt of a petition for adjustment of a dollar
threshold under paragraph (1), the Administrator shall -
(A) determine, in writing, whether that dollar threshold is
required to be adjusted under this section; and
(B) if so, shall publish in the Federal Register a revised
notice of the adjusted dollar thresholds under this section that
includes the adjustment of the dollar threshold covered by the
petition.
(3) The adjustment of a dollar threshold pursuant to a petition
under this subsection shall take effect on the date of the
publication of the revised notice adding the adjustment of that
dollar threshold under paragraph (2)(B).