Relates to provisions governing contracting between state agencies and not-for-profit organizations including new, renewal, and extension contracts and advance payments and interest for such contracts; repeals provisions relating to interest payments.
Requires state agencies to expend funds no later than ninety days after receipt of a certificate of approval from the director of the budget; reduces the budget of an agency that violates such requirement for the upcoming fiscal year by 1% of the amount of the late award.