| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Thierry H.B. No. 4506 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | A BILL TO BE ENTITLED | |
| 5 | 5 | AN ACT | |
| 6 | 6 | relating to accelerated payments applicable to state contracts in | |
| 7 | 7 | which a small businesses concern performs services as a prime | |
| 8 | 8 | contractor. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Section 2155.001, Texas Government Code, is | |
| 11 | 11 | amended by adding Section 2155.388 to read as follows: | |
| 12 | 12 | Section 2155.388, TIME FOR PAYMENT. Any contract made or | |
| 13 | 13 | entered into by a Texas government department or Texas agency with a | |
| 14 | 14 | Small Business Concern, as defined by Section 2155.505, Government | |
| 15 | 15 | Code, that performs services as a Prime Contractor, as defined by | |
| 16 | 16 | Section 2253.001, Government Code, may, to the fullest extent | |
| 17 | 17 | permitted by law, establish an accelerated payment date of 15 days | |
| 18 | 18 | after a proper invoice for the amount due is received provided | |
| 19 | 19 | that: | |
| 20 | 20 | (1) a specific payment date is not established by | |
| 21 | 21 | contract; and | |
| 22 | 22 | (2) no further consideration from or fees are charged | |
| 23 | 23 | to such prime contractor. | |
| 24 | 24 | SECTION 2. This Act takes effect on September 1, 2019. |