Requires agencies to issue grant agreements within 60 days of the effective date, review a bill or invoice within 30 days, and approve bills or invoices within 60 days; shortens the time frame between when bill is approved and when interest begins accruing to 60 days; applies an interest penalty if 1% for late payments; requites confirmation of receipt by the state of bills and invoices withing 5 days; applies the Prompt Payment Act (PPA) to all community-based organizations; requires grant agreements to specify payment dates and whether a grant is eligible under the PPA or for advanced payment; amends the Grant Accountability and Transparency Act (GATA) to remove arbitrary caps on fringe benefits and prevents state agencies from limiting indirect costs in contracts or grant agreements to less than 20% or the federally negotiated rate; applies timelines to every stage of the Court of Claims (COC) process; requires the COC to create an online portal; allows diversion of undisputed lapsed appropriation claims of less than $2500; allows state agencies to pay claims from any appropriated funding source; companion to HB 2746.

Requires agencies to issue grant agreements within 60 days of the effective date, review a bill or invoice within 30 days, and approve bills or invoices within 60 days; shortens the time frame between when bill is approved and when interest begins accruing to 60 days; applies an interest penalty if 1% for late payments; requires confirmation of receipt by the state of bills and invoices withing 5 days; applies the Prompt Payment Act (PPA) to all community-based organizations; requires grant agreements to specify payment dates and whether a grant is eligible under the PPA or for advanced payment; amends the Grant Accountability and Transparency Act (GATA) to remove arbitrary caps on fringe benefits and prevents state agencies from limiting indirect costs in contracts or grant agreements to less than 20% or the federally negotiated rate; applies timelines to every stage of the Court of Claims (COC) process; requires the COC to create an online portal; allows diversion of undisputed lapsed appropriation claims of less than $2500; allows state agencies to pay claims from any appropriated funding source; companion to SB 1778.

Requires state funding reimbursements for child advocacy centers are paid within 30 days and applies 10% interest of the total reimbursement amount as a late payment fee; requires an annual report of timeliness of reimbursements.

Expands and clarifies the definition of “renewal contract” for nonprofit contractors; requires work orders to include a schedule for submission of invoices for completed work, payment by the state agency, instructions for accessing the Not-for-Profit Short-term Revolving Loan Fund, and an outline payment procedures; requires the state to pay interest on late payments at the current prime interest rate, except when a nonprofit has secured a loan from the Not-for-Profit Short-Term Revolving Loan Fund; requires automatic advance payments of 25% of the total award to cover startup expenses within 30 days of an executed work order; requires advance payments of 25% of the total award upon request when the agency informs a nonprofit of its intent to extend the contract, even if the contract has not been signed yet, and provides for additional quarterly advances while contract is pending; requires 25% advance payments when contract execution is delayed by more than 30 calendar days; requires the Commissioner of Taxation and Finance to post the current prime interest rate; allows nonprofits to borrow the full contract amount from the Short-Term Revolving Loan Fund; requires the state to publicize the program; imposes reporting requirements on the Not-for-Profit Contracting Advisory Committee, broadens its remit, and provides for public access to reports; provides timelines, dollar thresholds, and streamlined review procedures for contract modifications; requires all contracts to include the federally approved indirect cost rate of 15% or the nonprofit’s actual indirect cost ratio, whichever is higher; defines as direct costs the purchase of furniture, technology, and equipment, expenses related to necessary, program-related office space, and training and certification needed to maintain credentials required under the grant; defines interest on loans needed to provide contracted services as a direct reimbursable cost; companion to S.7001.

Expands and clarifies the definition of “renewal contract” for nonprofit contractors; requires work orders to include a schedule for submission of invoices for completed work, payment by the state agency, instructions for accessing the Not-for-Profit Short-term Revolving Loan Fund, and an outline payment procedures; requires the state to pay interest on late payments at the current prime interest rate, except when a nonprofit has secured a loan from the Not-for-Profit Short-Term Revolving Loan Fund; requires automatic advance payments of 25% of the total award to cover startup expenses within 30 days of an executed work order; requires advance payments of 25% of the total award upon request when the agency informs a nonprofit of its intent to extend the contract, even if the contract has not been signed yet, and provides for additional quarterly advances while contract is pending; requires 25% advance payments when contract execution is delayed by more than 30 calendar days; requires the Commissioner of Taxation and Finance to post the current prime interest rate; allows nonprofits to borrow the full contract amount from the Short-Term Revolving Loan Fund; requires the state to publicize the program; imposes reporting requirements on the Not-for-Profit Contracting Advisory Committee, broadens its remit, and provides for public access to reports; provides timelines, dollar thresholds, and streamlined review procedures for contract modifications; requires all contracts to include the federally approved indirect cost rate of 15% or the nonprofit’s actual indirect cost ratio, whichever is higher; defines as direct costs the purchase of furniture, technology, and equipment, expenses related to necessary, program-related office space, and training and certification needed to maintain credentials required under the grant; defines interest on loans needed to provide contracted services as a direct reimbursable cost; companion to A.7616. UPDATE - new status; SUBSTITUTED for companion to A.7616.

Clarifies the definition of “grant” to mean a legal instrument of financial assistance between a state grantmaking entity and a private nonprofit use for specific purposes; clarifies the definition of “proper invoice” to mean a bill, a request for reimbursement, a written document or electronic submission readable by the state grantmaking entity that is provided by a private nonprofit corporation and includes certain requirements; declares the policy to make payments within 30 calendar days; applies interest at the rate agreed upon in the grant agreement or the prime rate; accrues interest on the 31st day after receipt of a proper invoice; provides exceptions and limitations for interest accrual; clarifies receiving and review requirements of a proper invoice; permits requests for an advance by a private nonprofit corporation and requires approval to the greatest extent practicable by the grantmaking entity; clarifies requirements to receive or approve an advance. UPDATE - AMENDED - Deletes provisions requiring interest for late payments of state grants, and allowing advance payments; now requires the state to notify a nonprofit of the reason for late payment if a proper invoice is unpaid for more than 30 days, and requires an annual report to the state Finance Director and Director of the Legislative Counsel Bureau; removes receiving and review requirements for invoices; allows the Office of Federal Assistance to coordinate and collaborate with state grant-making entities on certain topics related to grants, to identify advanced payment policies, best practices for monitoring and assessment of the risks of advance payments, and methods for state grantmakers to comply with the OMB Uniform Guidance, and requires the state to identify methods for the effective administration of grants, including the administration of advance grant payments to nonprofits. UPDATE - new status.

Requires the Department of Health and Human Services to continue payments to a service provider in good standing at the service provider’s previous contract rate when a delay in contract awarding, finalizations or payment of more than 30 days has occurred; requires the Department to pay administrative expenses and interest charged on lines of credit or loans accessed by a service provider when a delay has occurred.

Authorizes the State Treasurer to establish and administer a nonprofit investment pool and an electronic payment processing program for investment opportunities; companion to HB 1437. UPDATE - new status, new resource.

Authorizes the State Treasurer to establish and administer a nonprofit investment pool and an electronic payment processing program for investment opportunities; companion to SB 246.

Eliminates the use of checks for vendor payments for goods or services provided to state departments, commissions, or boards, and requires payments be made by direct deposit (ACH), Single Use Account (SUA), or the State's Procurement Card (PCARD) only, subject to exceptions approved by the State Treasurer and Division of Accounting; excludes single payment vouchers, one-time suppliers, forced year-end payouts, and legal settlements from this requirement.