2023 – Assembly Bill 590 (Hart, Gregg), State-funded Assistance Grants and Contracts: Advance Payments (Chaptered)
Authorizes a State agency administering a grant program or contract to provide advance payment to a recipient non-profit that qualifies under Section 501(c)(3) of the Internal Revenue Code. When allowing advance payment, the State agency must prioritize grant recipients and projects serving disadvantaged, low income, and under-resourced communities or organizations, and ensure the advance payment does not exceed 25 percent, although the State agency may exceed this cap. The bill allows grant recipients to provide moneys from the advance payment to subrecipients. Additionally, the bill requires the grant recipient to meet specified minimum requirements and allows the Department of Finance to perform an advance payment audit.