Federal Acquisition Regulation; Inapplicability of Cost Accounting Standards to Contracts and Subcontracts for Commercial Items

Résumé

The Civilian Agency Acquisition Council and the Defense Acquisition Regulations Council are proposing to amend the Federal Acquisition Regulation (FAR) Part 12 to implement Section 4205 of the fiscal year (FY) 96 National Defense Authorization Act. Section 4205 amends Section 26(f) of the Office of Federal Procurement Policy (OFPP) Act (41 U.S.C. 422(f)) by exempting contracts and subcontracts for commercial items from the application of Cost Accounting Standards (CAS) promulgated under 41 U.S.C. 422. This regulatory action was not subject to Office of Management and Budget review under Executive Order 12866, dated September 30, 1993. This is not a major rule under 5 U.S.C. 804.