SB1823 amends Tennessee's public contract law to require agencies to report late payments to businesses annually.

SB1823 amends Tennessee Code Annotated, Title 12, Chapter 4, concerning public contracts. It mandates that each agency making payments to a business under a contract must report annually by January 10, starting in 2027. The report must detail the number of late payments made, the aggregate amount of these payments, and the amount of interest paid on such late payments that remains unpaid. The report is to be submitted to the chairs of the state and local government committee of the Senate and the committee of the House of Representatives with jurisdiction over public contracts.

SB1823 amends Tennessee's public contract law to require agencies to report late payments to businesses annually.

SB1823 amends Tennessee Code Annotated, Title 12, Chapter 4, concerning public contracts. It mandates that each agency making payments to a business under a contract must report annually by January 10, starting in 2027. The report must detail the number of late payments made, the aggregate amount of these payments, and the amount of interest paid on such late payments that remains unpaid. The report is to be submitted to the chairs of the state and local government committee of the Senate and the committee of the House of Representatives with jurisdiction over public contracts.