Nevada AB442 revises grant payment procedures for private nonprofit corporations.
Nevada AB442 amends state financial administration by setting requirements for payments to private nonprofit corporations. It mandates that payments under a grant agreement be made within 30 days after the due date or receipt of a proper invoice, whichever is later. The bill also imposes interest on amounts due and payable under a written grant agreement if payment is not made within the specified timeframe. It authorizes state entities to use media other than original paper documents to expedite payment.
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