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AGENCY TESTIMONY
Discussion of proposed legislation: Introduction 1247
0:24:57
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30 sec
Michael Sedillo addresses Introduction 1247, a proposed bill that aims to expedite payments to nonprofit organizations by requiring immediate disbursement of a large portion of contract funds upon registration.
- Intro 1247 would require 80% of a fiscal year's contract funds to be disbursed immediately upon registration
- The bill also aims to establish a process to recover funds if necessary
- While acknowledging the need to support nonprofits, Sedillo expresses significant operational and fiscal concerns with the bill as currently written
- The administration is open to further discussion on the proposed legislation
Michael Sedillo
0:24:57
Thank you for calling this hearing today.
0:24:58
We look forward to discussing the bills that have been introduced.
0:25:01
Introduction twelve forty seven would require the procurement policy board to promulgate rules requiring the immediate disbursement of 80% of a fiscal year's contract funds for agency contracts with nonprofit organizations upon registration by the comptroller and establish a process to recover funds.
0:25:15
We understand this is a unique moment to support nonprofits, which is why we rolled out an unprecedented level of advances for our providers.
0:25:22
As the bill is currently written, we see significant operational and fiscal concerns and look forward to further discussion.