An Act establishing a 30-day deadline 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 payment of grants to named recipients that are not municipalities; and providing for an effective date.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill aims to streamline the payment process for state contracts, grants, and reimbursement agreements. It establishes a 30-day deadline for agencies to pay contractors, and a 30-day deadline for paying nonprofits, municipalities, and Alaska Native organizations. The bill also outlines procedures for interest accrual on unpaid balances and provides specific notification requirements when payments are withheld due to performance issues or non-compliance.
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