An Act establishing deadlines for the payment of contracts under the State Procurement Code; establishing deadlines for the payment of grants, contracts, and reimbursement agreements to nonprofit organizations, municipalities, and Alaska Native organizations; relating to reports from state agencies to the legislature detailing late payments made during 2026; relating to the state financial transactions Internet website; and providing for an effective date.
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Progress
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- Introduced
- Passed House
- Passed Senate
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- Became Law
Overview
This bill aims to improve the timeliness of payments made by the state to contractors, grant recipients (including nonprofits, municipalities, and Alaska Native organizations), and reimbursement agreement recipients. It establishes stricter deadlines for these payments, introduces interest charges for late payments, and requires state agencies to report on late payments made in 2026. The bill also updates the state’s financial website to provide more detailed financial information to the public.
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