Alaska SB129 establishes a 30-day deadline for state agencies to pay contractors, grants, and reimbursement agreements to nonprofit organizations.

Alaska SB129 amends the State Procurement Code to set a 30-day deadline for state agencies to pay contractors for satisfactory performance on contracts. If payment is not made within this timeframe, interest must be paid on the unpaid amount. The bill also mandates that at least 20% of grants to named recipients that are not municipalities must be paid within 10 days of receiving federal funds.

Alaska SB129 establishes a 30-day deadline for state agencies to pay contractors, grants, and reimbursement agreements to nonprofit organizations.

Alaska SB129 amends the State Procurement Code to set a 30-day deadline for state agencies to pay contractors for satisfactory performance on contracts. If payment is not made within this timeframe, interest must be paid on the unpaid amount. The bill also mandates that at least 20% of grants to named recipients that are not municipalities must be paid within 10 days of receiving federal funds.