The bill aims to enhance prompt payment practices in public works projects in Washington State, particularly focusing on the needs of small businesses, including women and minority-owned enterprises. It establishes a review by the capital projects advisory review board to assess the effectiveness of existing prompt pay statutes, specifically those outlined in RCW 39.04.250, 39.76.011, and 39.76.020. The board is tasked with presenting its findings and recommendations to the legislature by November 1, 2024, and is required to engage with a diverse range of stakeholders during this process.

Key provisions include a mandate for state and local entities to pay prime contractors within 30 days for satisfactorily completed work or delivered materials from certified small businesses. Additionally, it requires that prime contractors and higher-tier subcontractors must pay their subcontractors within 10 days of receiving payment, ensuring that certified small businesses or recognized women and minority-owned businesses receive timely payments. The bill is declared an emergency measure, taking effect immediately to support public peace, health, and safety.

Statutes affected:
Original Bill: 39.04.250
Substitute Bill: 39.04.250
Engrossed Substitute: 39.04.250