§ 5-17-5-3 — Funds for late payment penalties; accrual of late payment penalty; defective claims

Indiana § 5-17-5-3

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 17: PUBLIC PURCHASES
• Ch. 5: Prompt Payment

Text

(a) The state comptroller shall pay a late
payment penalty on behalf of any state agency required to pay late
payment penalties under this chapter. The state comptroller shall pay
the penalties from funds designated for administrative costs of the
agency receiving the public works, personal services, goods and
services, equipment, or travel. The penalties may not be paid from
other funds of the state.
(b) Any late payment penalty that remains unpaid at the end of any
thirty (30) day period shall be added to the principal amount of the debt
and, thereafter, penalties shall accrue on that amount.
(c) In instances where a claim is filled out incorrectly, or where
there is any defect or impropriety in a claim submitted, the state
comptroller, any division of the Indiana department of administration
that accepts claims for payment, or a political subdivision, as
appropriate, shall contact the vendor within ten (10) days. An error on
the vendor's claim, if corrected within five (5) business days of being
so contacted, may not result in the vendor being paid late.

Legislative History

As added by P.L.59-1983, SEC.1. Amended by P.L.44-1996, SEC.2; P.L.9-2024, SEC.157.