HB328: State Finance and Procurement - Grants - Prompt Payment Requirement

Legislative Summary

Establishing invoicing and prompt payment requirements for certain State grants; requiring the State to make payment under certain grant agreements within 37 days of the payment becoming due under the agreement or after receiving a proper invoice; and authorizing interest accrual at the rate of 9% per year on any amount that is due and payable but remains unpaid after a certain time.