AB442: Revises provisions relating to grants. (BDR 31-589)

Legislative Summary

AN ACT relating to state financial administration; declaring the policy of this State to make payments to private nonprofit corporations under a grant agreement within a certain period of time and to make advance payments of grants to such corporations; with certain exceptions, imposing interest on amounts due under a written grant agreement which are not timely paid after receipt of a proper invoice; requiring state entities that make grants to take certain actions upon the receipt of an invoice; authorizing the use of media other than original paper documents to expedite grant payments; revising provisions relating to advance payments of grants to private nonprofit corporations; and providing other matters properly relating thereto.