State and Local Procurement - Payment Practices
What this bill does
Altering a State policy to make a payment under a procurement contract or after receipt of a proper invoice in 15 days rather than the current policy of 30 days; requiring each county and municipality to adopt a certain policy; reducing the number of days from 45 to 15 following receipt of an invoice after which the State owes interest on unpaid amounts and interest begins to accrue on unpaid amounts; and repealing a requirement that a contractor submit an invoice within a certain amount of time in order to receive interest payments.
Analysis reads the bill text, the fiscal note, and the witness list. It is generated by Claude and reviewed by nobody, so check the source documents before you rely on it.