AB75

Nevada AB75 revises grant payment procedures and interest liability for state entities.

Nevada AB75 amends grant payment procedures by requiring state entities to process and authorize payments within 37 days of the due date or invoice receipt. It mandates that interest at a rate of 9 percent per annum accrues on amounts due under a written grant agreement if not paid within 30 days of receiving a proper invoice. The bill defines "proper invoice" and outlines exceptions to interest liability. It also authorizes the use of media other than original paper documents to expedite payments, provided adequate safeguards are in place.