By Mark G. Mills, SBTDC/PTAC Program Director, NC State University
As technology moves at the speed of light I get bombarded with articles and stories related to federal, state and local contracting. The SBTDC’s PTAC counselors are members of the Association of Procurement Technical Assistance Centers (APTAC) and receive their newsletter which includes content written by PTAC counselors across the United States.
A member of the New Hampshire PTAC, Dave Pease, recently wrote two informative articles that we share with you this month on Federal Acquisition Regulation (FAR) and Federal Funding and Accountability and Transparency Act (FFATA). Our intent is to provide information that will help you be better contractors, and I believe both of these articles do that.
The FAR Council has published a final rule effective October 1, 2015 that will amend a number of the dollar thresholds in the FAR. It will allow for their ongoing adjustment on a periodic basis. The full text of all of the changes can be found at Federal Register /Vol. 80, No. 127 /Thursday, July 2, 2015 /Rules and Regulations 38293.
Some of the key provisions will be:
- The micro-purchase base threshold of $3,000 (FAR 2.101) is increased to $3,500.
- The simplified acquisition threshold (FAR 2.101) of $150,000 is unchanged.
- The FedBizOpps pre-award and post-award notices (FAR part 5) remain at $25,000 because of trade agreements.
- The threshold for use of simplified acquisition procedures for acquisition of commercial items (FAR 13.500) is raised from $6.5 million to $7 million.
- The cost or pricing data threshold (FAR 15.403-4) and the statutorily equivalent Cost Accounting Standard threshold are raised from $700,000 to $750,000.
- The prime contractor subcontracting plan (FAR 19.702) floor is raised from $650,000 to $700,000, and the construction threshold of $1,500,000 stays the same.
- The threshold for reporting first-tier subcontract information including executive compensation will increase from $25,000 to $30,000 (FAR subpart 4.14 and section 52.204-10).