Small Business Majority Supports California's Prompt Payment Bill
Mark Herbert, California Director for Small Business Majority, submitted a letter in support of the California Prompt Payment bill (AB 1552), which would require all public utilities to promptly pay vendors that submit valid invoices. Prompt payment measures such as this will help small businesses compete more effectively in bidding processes for contracts. The bill requires that public utilities will be required to pay vendor invoices within 30 days. If a utility fails to pay an invoice submitted by a certified small business, or a contractor that has committed to using a certified small business for at least 25% of the contracted work, they will face a financial penalty for failing to pay.