Bill > SB205

This bill, known as the Prompt Payment Act of 2025, establishes a comprehensive framework for state agencies to process invoices from qualified vendors in a timely and transparent manner. The legislation requires state agencies to pay legitimate, uncontested invoices within 45 days of receipt, with a three percent interest penalty compounded weekly for payments made after that deadline. The bill defines when an invoice is considered received, taking into account postmarks, electronic receipts, and the actual delivery and acceptance of goods or services. State agencies are required to process invoices within 10 business days and have the right to request revised invoices with itemized interest charges. The bill also provides specific provisions for how interest will be calculated and reported, and clarifies that the term "state agency" encompasses entities from all branches of state government. Importantly, the legislation includes exceptions for vendors who are debarred or ineligible for payment, and it does not limit an agency's ability to reject fraudulent or disputed claims. The overall goal is to ensure prompt and fair payment to vendors while providing accountability and transparency in state financial transactions.

Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=205&year=2025&sessiontype=RS&btype=bill