§ 42-11.1-7. Determination of appropriations for interest payments.
Except in situations when federal law or other provisions of this chapter require otherwise, an interest payment required by this chapter shall be paid from the same appropriation as that from which the related proper invoice is paid, provided, however, that the interest payment shall not reduce the amount of money that otherwise will be payable to the contractor under the terms of the relevant contract and that if the obligation to make an interest payment is incurred in whole or in part because it takes the controller’s office more than seventeen (17) working days from the date it receives an approvable voucher from another state agency, excluding legal holidays, to process a contract payment, then the portion of the total interest payment that is attributable to delays by the controller’s office shall be paid from funds made available to the controller’s office. Notwithstanding any other provision of law to the contrary, if the amount of money available from any above mentioned appropriation to the state agency which received the proper invoice is insufficient to pay the interest and if for any reason it is not feasible for the director of the budget to exercise the transfer or interchange authority, the director of the budget may issue a voucher or vouchers transferring or interchanging within a fund such amount as is needed to pay the interest to the appropriation within the fund from the unspent balance of any appropriation that is available to the same state agency. In exercising the latter transfer or interchange authority, the director of the budget shall transfer or interchange amounts that are not needed to accomplish the purposes for which the appropriation was made, except, however, the director of the budget may, to the extent he or she deems it practicable, transfer or interchange amounts from appropriations that otherwise would be available for the administration and operations of the state agency which incurred the interest payment. Any such voucher or vouchers issued by the director of the budget shall be sent to the state controller.
History of Section.P.L. 1987, ch. 73, § 1.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-11.1 - Prompt Payment by Department of Administration
Section 42-11.1-2. - Definitions.
Section 42-11.1-3. - Time period for payment.
Section 42-11.1-4. - Partial payment.
Section 42-11.1-5. - Determination of eligibility for payment of interest.
Section 42-11.1-6. - Computation of interest payment.
Section 42-11.1-7. - Determination of appropriations for interest payments.
Section 42-11.1-8. - Exclusion of interest from reimbursement rates.
Section 42-11.1-10. - Acceptance of payment.
Section 42-11.1-11. - Chapter to control — Contractual waiver void.
Section 42-11.1-12. - Judicial review.
Section 42-11.1-13. - Court actions or other legal processes.
Section 42-11.1-14. - Inapplicability of chapter.
Section 42-11.1-15. - Quarterly reports of late payments and interest.
Section 42-11.1-16. - Partial payment — Certificate of continuance.