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​The Small Business Blog

TIPS * UPDATES * INDUSTRY NEWS

FAr Council Issues Final Rule Capping Employee Compensation

10/13/2016

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On September 30, 2016, the FAR Council finalized its Interim Rule which capped the allowable compensation for all contractor employees at the benchmark set by Congress in Section 702 of the Bipartisan Budget Act of 2013.  The Interim Rule has been in effect since June 24, 2014.   Under the Interim Rule and now the Final Rule, the cap on compensation remains at $487,000.  Note that compensation includes the total amount of wages, salary, bonuses, deferred compensation, and employer contributions to defined contribution pension plans.
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paid sick leave regulations for federal contractors takes effect on January 1, 2017

10/9/2016

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 On September 7, 2015, President Obama signed Executive Order 13706, "Establishing Paid Sick Leave for Federal Contractors."  On September 30, 2016, the Department of Labor issued a Final Rule implementing the Executive Order on paid sick leave for federal contractors.  The Final Rule applies to covered prime contracts and subcontracts entered into on or after January 1, 2017.  Many of our clients have called with questions about the Final Rule, so the following provides some general information about it.

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new far clauses on delinquent tax liability or felony convictions could prevent companies from receiving contract awards

10/7/2016

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On September 30, 2016, the FAR Council published a Final Rule that immediately adopted, without change, the Interim Rule published on December 4, 2015 regarding a company's unpaid Federal tax liability or conviction of a felony criminal violation.   Specifically, the Final Rule created FAR 52.209-11 titled "Representation by Corporations Regarding Delinquent Tax Liability or a Felony Conviction under any Federal law and FAR 52.209-12 titled "Certification Regarding Tax Matters".
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SBA Issues Final Rule Implementing Provisions of the 2013 NDAA Pertaining to Limits on Subcontracting

6/11/2016

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On May 31, 2016, the Small Business Administration issued a Final Rule implementing provisions of the 2013 National Defense Authorization Act, which pertain to performance requirements applicable to small business subcontracting, affiliation and joint ventures.   Holomua Consulting Group submitted comments in response to the Proposed Rule and we are pleased to note that many of our comments were taken into consideration and our suggestions reflected in the Final Rule.  The Final Rule takes effect on June 30, 2016.  The following is a summary of the major points of the Final Rule.

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Almost All Federal Contractors and Subcontractors Must Now Meet Minimum Cybersecurity Requirements

6/11/2016

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On May 16, 2016, the Federal Acquisition Regulation (FAR) was amended to add a new subpart and contract clause for the basic safeguarding of contractor information systems.  Put another way, these provide baseline or minimum cybersecurity requirements which almost all federal contractors and subcontractors will have to comply with.  The rule will take effect on June 15, 2016.

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