By: Thierry H.B. No. 4506
A BILL TO BE ENTITLED
AN ACT
relating to accelerated payments applicable to state contracts in
which a small businesses concern performs services as a prime
contractor.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 2155.001, Texas Government Code, is
amended by adding Section 2155.388 to read as follows:
Section 2155.388, TIME FOR PAYMENT. Any contract made or
entered into by a Texas government department or Texas agency with a
Small Business Concern, as defined by Section 2155.505, Government
Code, that performs services as a Prime Contractor, as defined by
Section 2253.001, Government Code, may, to the fullest extent
permitted by law, establish an accelerated payment date of 15 days
after a proper invoice for the amount due is received provided
that:
(1) a specific payment date is not established by
contract; and
(2) no further consideration from or fees are charged
to such prime contractor.
SECTION 2. This Act takes effect on September 1, 2019.