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