14 USC 5115 – Major grants, contracts, or other transactions
(a)
(1)
(A) making or awarding a grant allocation or grant in excess of $1,000,000;
(B) making or awarding a contract, other transaction agreement, or task or delivery order for the Coast Guard on the multiple award contract, or issuing a letter of intent totaling more than $4,000,000;
(C) awarding a task or delivery order requiring an obligation of funds in an amount greater than $10,000,000 from multi-year Coast Guard funds;
(D) making a sole-source grant award; or
(E) announcing publicly the intention to make or award an item described in subparagraph (A), (B), (C), or (D), including a contract covered by the Federal Acquisition Regulation.
(2)
(A) the amount of the award;
(B) the fiscal year for which the funds for the award were appropriated;
(C) the type of contract;
(D) an identification of the entity awarded the contract, such as the name and location of the entity; and
(E) the account from which the funds are to be drawn.
Terms Used In 14 USC 5115
- Contract: A legal written agreement that becomes binding when signed.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(b)
(1) may make an award or issue a letter described in such subsection without the notification required under such subsection; and
(2) shall notify the appropriate committees of Congress not later than 5 full business days after such an award is made or letter issued.
(c)
(d)
(1) the Committee on Commerce, Science, and Transportation and the Committee on Appropriations of the Senate; and
(2) the Committee on Transportation and Infrastructure and the Committee on Appropriations of the House of Representatives.