Prompt Payment Act of 2025

SB 205, the Prompt Payment Act of 2025, requires West Virginia state agencies to pay registered vendors for legitimate, uncontested invoices within 45 days of receipt. If payment is late, a 3% weekly interest rate (compounded from day 46) is added to the invoice amount. The bill defines "received" as the earlier of the postmark date, electronic log date, or date of service acceptance, and mandates state agencies to itemize interest on payments. It applies to vendors supplying services or commodities but excludes debarred vendors, disputed claims, or fraudulent invoices. The law takes effect for purchases made on or after July 1, 2025.