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Bill > HB1696
TN HB1696
TN HB1696AN ACT to amend Tennessee Code Annotated, Title 12, Chapter 4, relative to public contracts.
summary
Introduced
01/15/2026
01/15/2026
In Committee
01/22/2026
01/22/2026
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
As introduced, requires a state department, agency, or official who contracts with a business to acquire property or services to make payments under the contract to the business within 30 days rather than 45 days after receipt of the invoice from the business; requires such state departments, agencies, and officials to annually report to the chairs of the appropriate standing committees of the senate and house of representatives by January 10 of each year the number and aggregate amount of late payments made for the preceding calendar year and the amount of interest paid and outstanding on such late payments. - Amends TCA Title 12, Chapter 4.
AI Summary
This bill shortens the timeframe for state departments, agencies, or officials to pay businesses for acquired property or services from 45 days to 30 days after receiving an invoice, aiming to improve cash flow for businesses contracting with the state. Additionally, it requires these state entities to annually report to legislative committee chairs by January 10th on the number and total amount of late payments made in the previous calendar year, as well as any interest paid or outstanding on those late payments, providing greater transparency and accountability for timely payments.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Assigned to s/c Public Service Subcommittee (on 01/22/2026)
bill text
bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1696&ga=114 |
| Fiscal Note - HB1696 | https://www.capitol.tn.gov/Bills/114/Fiscal/HB1696.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/HB1696.pdf |
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