To amend section 404 of title 39, United States Code, to permit contractors to independently continue operating contract postal units that would otherwise be closed by the United States Postal Service, and for other purposes.

This bill, the Postal Contracting Financial Accountability Act, would add a new subsection to 39 U.S.C. §404 allowing a contractor-operated contract postal unit to continue operating if the United States Postal Service (USPS) terminates or chooses not to renew the contract for that unit. The contractor may elect to keep the unit running under modified terms, subject to certain conditions, including possible future payments from the USPS as determined by the Postmaster General. The arrangement would keep the unit open until either the contractor breaches the agreement, or the contractor voluntarily ends or ceases operations. The law would define who is a “covered contractor” and what constitutes a “contract postal unit” and its operation agreement.