California Assembly Bill AB1294 Introduced / Bill

 BILL NUMBER: AB 1294INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Holden FEBRUARY 27, 2015 An act to amend Section 927 of the Government Code, relating to state government. LEGISLATIVE COUNSEL'S DIGEST AB 1294, as introduced, Holden. State government. The California Prompt Payment Act dictates that a state agency that fails to make a timely payment for goods or services acquired pursuant to a contract with a specified business or organization is subject to a late payment penalty, and dictates that the act applies to all state agencies, including, but not limited to, the Public Employees' Retirement System. This bill would make a nonsubstantive change to this provision. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 927 of the Government Code is amended to read: 927. (a) This chapter shall be known and may be cited as the California Prompt Payment Act. (b) It is the intent of the Legislature that state agencies pay properly submitted, undisputed invoices, refunds, or other undisputed payments due to individuals within 45 days of receipt or notification thereof, or automatically calculate and pay the appropriate late payment penalties as specified in this chapter. (c) Notwithstanding any other  provision of  law, this chapter shall apply to all state agencies, including, but not limited to, the Public Employees' Retirement System, the State Teachers' Retirement System, the Treasurer, and the Department of General Services.