An Act establishing a 30-day deadline for the payment of contracts under the State Procurement Code; establishing deadlines for the payment of grants, contracts, and reimbursement agreements to nonprofit organizations, municipalities, and Alaska Native organizations; relating to payment of grants to named recipients that are not municipalities; and providing for an effective date.

SB 129 requires Alaska state agencies to pay contractors, nonprofit organizations, municipalities, and Alaska Native organizations within 30 calendar days after receiving a valid payment request for contracts, grants, or reimbursement agreements. If payments are delayed, agencies must pay interest at the state rate starting on the 31st day (or 21st day for federal-funded grants). The bill also mandates written notices within 8 working days if payments are withheld due to performance issues, detailing required corrections. These provisions apply to most state-funded contracts and grants but exclude public construction projects and retainage. The law aims to ensure timely payments to organizations relying on state funding for operations.