Page:United States Statutes at Large Volume 108 Part 4.djvu/669

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PUBLIC LAW 103-355 —OCT. 13, 1994 108 STAT. 3303 awarded by the Secretary for repair, maintenance, or overhaul of a naval vessel shall be not less than— "(A) 95 percent, in the case of a firm considered to be a small business; and "(B) 90 percent, in the case of any other firm. "(2) The Secretary of the Navy may advance to private salvage companies such funds as the Secretary considers necessary to provide for the immediate financing of salvage operations. Advances under this paragraph shall be made on terms that the Secretary considers adequate for the protection of the United States. "(3) The Secretary of the Navy shall provide, in each contract for construction or conversion of a naval vessel, that, when partial, progress, or other payments are made under such contract, the United States is secured by a lien upon work in progress and on property acquired for performance of the contract on account of all payments so made. The lien is paramount to all other hens.". (h) RELATIONSHIP TO PROMPT PAYMENT REQUIREMENTS. —The lo use 2307 amendments made by this section are not intended to impair or "°*®- modify procedures required by the provisions of chapter 39 of title 31, United States Code, and the regulations issued pursuant to such provisions of law (as such procedures are in effect on the date of the enactment of this Act), except that the (Government may accept payment terms offered by a contractor offering a commercial item. (i) CLERICAL AMENDMENT.— The table of sections at the beginning of chapter 137 of title 10, United States Code, is amended by striking out the item relating to section 2307 and inserting in lieu thereof the following: "2307. Contract financing. ". (j) REPEAL OF SUPERSEDED PROVISIONS.— (1) Sections 7312, 7364, and 7521 of title 10, United States Code, are repealed. (2) Section 7522 of such title is amended— (A) by striking out subsection (b); and (B) by redesignating subsection (c) as subsection (b). (3) Chapters 633, 637, and 645 of such title are amended by striking out items in the tables of sections for such chapters as follows: (A) For chapter 633, the item relating to section 7312. (B) For chapter 637, the item relating to section 7364. (C) For chapter 645, the item relating to section 7521. SEC. 2002. REPEAL OF VOUCHERING PROCEDURES SECTION. (a) REPEAL.— Section 2355 of title 10, United States Code, is repealed. (b) CLERICAL AMENDMENT. —The table of sections at the beginning of chapter 139 of such title is amended by striking out the item relating to section 2355. PART II—CIVILIAN AGENCY ACQUISITIONS SEC. 2051. CONTRACT FINANCING. (a) REORGANIZATION OF PRINCIPAL AUTHORITY PROVISION.— Section 305 of the Federal Property and Administrative Services Act of 1949 (41 U.S.C. 255) is amended— (1) by striking out the section heading and the section designation and inserting in lieu thereof the following: