§ 8971 Warrant Interest Payment Rules

• •If the state owes someone money (like a bill or payment) and it's late, they have to pay extra money called 'interest'.
• •The person in charge of the state's money (State Treasurer) has to pay both the original amount and the extra interest.
• •The amount of extra money is decided by another official (the Controller).

Imagine the state was supposed to pay a company $100 for fixing a road, but they paid 6 months late.

The state doesn’t just pay the $100—they also have to pay a little extra (interest) because they were late. The Controller figures out how much extra, and the Treasurer pays it all together.