Statutes, codes, and regulations
Illinois Administrative Code
Title 74 - PUBLIC FINANCE
Part 900 - JOINT RULES OF THE COMPTROLLER AND THE DEPARTMENT OF CENTRAL MANAGEMENT SERVICES: PROMPT PAYMENT
Section 900.40 - Statement Indicating That Interest Penalty May Be Available

Ill. Admin. Code tit. 74 § 900.40

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Current through Register Vol. 48, No. 45, November 8, 2024
Section 900.40 - Statement Indicating That Interest Penalty May Be Available
a) The remittance advice of each commercial payment must contain the following statement or words of similar meaning:

"Payment of interest may be available if the State fails to comply with the State Prompt Payment Act [30 ILCS 540 ]."

b) In the case of electronic payments, the statement may be transmitted electronically or otherwise reflected within the information authorizing electronic payments.

Ill. Admin. Code tit. 74, § 900.40

Amended at 26 Ill. Reg. 14666, effective September 19, 2002