Except as otherwise provided for by law, the general court or any agency of the executive or judicial branches of the government which acquires property or services from a commercial vendor, including both profit and not for profit corporations, excluding state employees, recipients of public assistance, cities and towns and other municipal forms of government, but which does not make full payment by the required payment date for each such complete and appropriate item of property or service delivered under an applicable purchase order contract, shall be liable for late penalty interest to said commercial vendor on the amount which is due under the following provisions:
Any state agency required to pay interest under this section shall pay any amount required out of funds appropriated for the administration or operation of the program for which the interest was incurred.
The secretary of administration and finance shall, not more than 60 days after the conclusion of each fiscal year, file with the house and senate committees on ways and means a summary report on any interest penalties made under this section during the preceding fiscal year. Such report shall include the number, amounts, frequency of interest penalty payments and reasons such interest payments were made, summarized by state agency and secretariat, where applicable.
A copy of rules and regulations promulgated under this section, or any amendment or repeal of any such rules and regulations, shall be filed with the house and senate committees on ways and means at least 30 days prior to implementation.
Mass. Gen. Laws ch. 29, § 29C