(a) Except as provided in section 4a-72, each state department and agency shall pay interest at a rate equal to the monthly effective yield for the Short Term Investment Fund administered by the Treasurer pursuant to sections 3-27a to 3-27f, inclusive, on amounts due on written contracts for public works, personal services, goods and services, equipment and travel, whenever such department or agency fails to make timely payment.
(b) For the purposes of this section, payment shall be timely if: (1) A check or warrant is mailed or delivered on the date specified for the amount specified in the applicable contract documents, or, if no date is specified, within forty-five days of receipt of a properly completed claim or receipt of goods and services, whichever is later; or (2) for any amount that is required to be withheld under state or federal law, a check or warrant is mailed or delivered in the proper amount on the date the amount may be released under the applicable law.
(P.A. 84-243, S. 4; P.A. 05-95, S. 1; P.A. 15-123, S. 6.)
History: Sec. 4-121a transferred to Sec. 4a-71 in 1989; P.A. 05-95 changed interest rate in Subsec. (a) from 1% per month to the monthly effective yield for the Short Term Investment Fund; P.A. 15-123 amended Subsec. (a) to change reference from Sec. 4a-73 to Sec. 4a-72, effective June 23, 2015.
Structure Connecticut General Statutes
Title 4a - Administrative Services
Chapter 58 - Purchases and Printing
Section 4a-50. (Formerly Sec. 4-109). - Definitions.
Section 4a-51. (Formerly Sec. 4-110). - Duties of Administrative Services Commissioner re purchases.
Section 4a-52. (Formerly Sec. 4-111). - Regulations.
Section 4a-52b. - Circumstances in which constituent units authorized to purchase by negotiation.
Section 4a-53a. - Contracting agent for group of municipalities.
Section 4a-55. (Formerly Sec. 4-110b). - Laundry service and supply contracts.
Section 4a-56. (Formerly Sec. 4-123). - Purchasing standards and specifications.
Section 4a-57a. - Distribution of surplus state property. Lease of property to municipalities.
Section 4a-57c. - Multiple criteria bids or proposals. Pilot program.
Section 4a-57e. - Purchases of personal protective equipment. List of companies. Report.
Section 4a-59. (Formerly Sec. 4-114). - Award of contracts.
Section 4a-60b. - Reverse auctions. Use by contracting agencies authorized.
Section 4a-60j. (Formerly Sec. 32-9h). - Time for payment of contractors.
Section 4a-62. (Formerly Sec. 4-114c). - Minority Business Enterprise Review Committee.
Section 4a-63. - Disqualification from bidding on contracts. Suspension.
Section 4a-64. (Formerly Sec. 4-116). - Persons not to be interested in contract.
Section 4a-65. (Formerly Sec. 4-115). - Unlawful purchases.
Section 4a-67. (Formerly Sec. 4-120a). - Acquisition of federal surplus property.
Section 4a-67b. - Elimination of use of disposable and single-use products in state government.
Section 4a-67c. - Equipment and appliances for state use, energy standards.
Section 4a-67e. - Standards for purchase of recycled paper.
Section 4a-67f. - Specifications for printing and writing paper.
Section 4a-67g. - Recycling and remanufacture of laser printer toner cartridges.
Section 4a-70a. - Prohibition on printing state stationery containing party symbol.
Section 4a-71. (Formerly Sec. 4-121a). - Prompt payment by state departments and agencies.
Section 4a-72. (Formerly Sec. 4-121b). - Prompt payment. Exceptions.
Section 4a-73. (Formerly Sec. 4-121c). - Administration of prompt payment provisions.
Section 4a-76. (Formerly Sec. 4-122a). - Recording of estimated requirements.