| The Federal Acquisition Regulation Council has published a final rule, effective October 1, 2015, amending a number of the dollar thresholds in the Federal Acquisition Regulations (FAR), and will allow for their ongoing adjustment on a periodic basis. The full text of all of the changes can be found HERE Some of the key provisions are:
- 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 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).