Bill Text: TX HB4506 | 2019-2020 | 86th Legislature | Introduced

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Bill Title: Relating to accelerated payments applicable to state contracts in which a small businesses concern performs services as a prime contractor.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2019-03-26 - Referred to State Affairs [HB4506 Detail]

Download: Texas-2019-HB4506-Introduced.html

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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.