SB1144: Clean Water Commerce Account - Contracts for the Purchase of Environmental Outcomes

Legislative Summary

Requiring the Department of the Environment, in entering into a certain contract under the Clean Water Commerce Account for the purchase of a certain environmental outcome, to allow certain nonuniform payment schedules for certain purposes; and authorizing the Department, in order to ensure certain outcomes, to require a minimum final payment and, for a contract award greater than $500,000, additional financial protections, including a letter of credit, insurance instrument, or performance bond.