CA AB547

Requires state agencies to pay undisputed invoices from certified disabled veteran business enterprises that are also small businesses within 30 calendar days of receipt, reduced from the standard 45-day requirement

State agencies must submit claims on undisputed invoices to the Controller for payment within 15 calendar days of receiving the invoice

Agencies that fail to submit correct claim schedules within 15 days and do not issue payment within 30 days must pay penalties from their own support appropriation at a rate of 10% above the U.S. Prime Rate

The Controller must pay claimants within 15 calendar days of receiving a correct claim schedule from the state agency, or face similar penalty requirements paid from the Controller's funds

Agencies may avoid penalties by paying claimants directly from their revolving fund within 30 calendar days of receiving an undisputed invoice