AL HB204

Prohibits waiver of the 30-day payment requirement for state contracts and mandates payment within 30 days after completion of work and submission of proper invoice when amounts are not in dispute.

Imposes one percent monthly interest (or fraction thereof) on any approved but unpaid amounts until final payment is made.

Requires contracts to certify that funds are secured for payment and mandates proof of fund availability be provided to contractors before they execute their contractual responsibilities.

Requires contractors receiving state payments to pay subcontractors and sub-subcontractors within seven days (or per agreed terms) and include attributable interest at the legal rate currently charged by the state.

Allows parties to recover reasonable attorneys' fees and court costs in civil actions where judgments are rendered in their favor, and permits withholding payment only for bona fide disputes (with withholding amounts not exceeding twice the disputed amount).