SB2845

SB2845 amends the State Prompt Payment Act to ensure timely payments to contractors, subcontractors, and suppliers, with interest penalties for late.

SB2845 amends the State Prompt Payment Act to establish stricter timelines and penalties for late payments to contractors, subcontractors, and suppliers. If a contractor fails to make full payment within 10 business days or 15 calendar days after receiving payment, they must pay interest to subcontractors and suppliers. The State is required to pay interest to vendors if payments are not made within 60 days. The bill also mandates that State agencies review bills and invoices within 30 days and provides for administrative hearings if payment is withheld without reasonable cause.