Relative to delinquent payment of accounts by on premises and off premises licensees.
The legislation amends RSA 179:13 to set clearer guidelines for the reporting of overdue accounts, ultimately reinforcing financial accountability within the beverage distribution industry. By fortifying these regulations, SB98 is expected to improve the financial health of licensed businesses by discouraging late payments. This can lead to a more stable business environment as it signals to the market that compliance with payment schedules is strictly monitored and enforced.
Senate Bill 98 (SB98) aims to update the requirements surrounding the reporting of delinquent payments by on-premises and off-premises alcohol licensees. The bill specifically increases the threshold for delinquent payment reporting to the Liquor Commission from $100 to $250. This change mandates that any licensee who has outstanding payments above the specified threshold must be reported within a certain timeframe, thus enhancing the enforcement capabilities of the commission regarding delinquent accounts in the alcoholic beverages sector.
The general sentiment around SB98 appears to be positive among proponents in the liquor industry, who believe that it will support fair business practices and hold delinquent operators accountable. However, there may be some concerns raised by smaller licensees who could find the increased reporting threshold burdensome, particularly if they encounter cash flow challenges. Overall, discussions suggest a consensus on the necessity of the bill, albeit with some apprehension regarding its implementation.
Some notable points of contention include the potential impact on small businesses in the beverage industry, which may argue that raising the reporting threshold from $100 to $250 may not take their cash flow realities into account. Furthermore, there may be concerns from industry advocates regarding the balance between ensuring strict enforcement and maintaining supportive business practices that do not disproportionately penalize small operators for cash flow issues.