Post by Logan on May 14, 2016 4:53:38 GMT -6
SPRINGFIELD -- City Water, Light and Power of Springfield is among municipal utilities that would earn monthly interest on overdue state bills under a change pending with an Illinois rules-making panel.
The change also assumes eventual legislative approval of the spending.
CWLP is owed $11.7 million from overdue state electric bills. The state owes the city another $1 million for water, sewer and sanitary service, according to CWLP figures. A $2.8 million payment in April brought the total paid toward overdue bills to $6 million since the start of the state fiscal year last July.
The governor and legislators have yet to agree on a budget for the current fiscal year or for the new one that begins July 1.
A rules change proposed by the Illinois Department of Central Management Services would include municipally owned utilities under the state's Prompt Payment Act. The change would allow for a 1 percent interest charge after 90 days for each month a bill is overdue. The change would apply to utility service provided after July 1, 2015, according to a summary of the rule at the Joint Committee on Administrative Rules.
Read more: www.sj-r.com/news/20160513/change-in-delayed-payment-rules-would-benefit-cwlp
The change also assumes eventual legislative approval of the spending.
CWLP is owed $11.7 million from overdue state electric bills. The state owes the city another $1 million for water, sewer and sanitary service, according to CWLP figures. A $2.8 million payment in April brought the total paid toward overdue bills to $6 million since the start of the state fiscal year last July.
The governor and legislators have yet to agree on a budget for the current fiscal year or for the new one that begins July 1.
A rules change proposed by the Illinois Department of Central Management Services would include municipally owned utilities under the state's Prompt Payment Act. The change would allow for a 1 percent interest charge after 90 days for each month a bill is overdue. The change would apply to utility service provided after July 1, 2015, according to a summary of the rule at the Joint Committee on Administrative Rules.
Read more: www.sj-r.com/news/20160513/change-in-delayed-payment-rules-would-benefit-cwlp