Updated through the acts of the 84th Legislature, Regular Session
New LBB Major Contract Reporting Instructions Available
eXpendit has been updated to reflect the new Legislative Budget Board (LBB) instructions for Major Contract ReportingPDF.
Late Payment Interest Rate Remains 4.25 Percent for Fiscal 2015
The interest rate the state pays on a late payment due a vendor under the state’s prompt payment law will be 4.25 percent for fiscal 2015. The interest calculation is one percentage point higher than the prime rate published in the Wall Street Journal on the first business day of July.
For more information, see Interest Rate under the Prompt Payment tab.
The Texas Comptroller of Public Accounts created eXpendit to provide information to state agencies and institutions of higher education on how to properly carry out purchase transactions while complying with certain provisions of the constitution, statutes and rules of Texas related to expenditures.
The eXpendit website allows agencies to quickly and easily search for the information they need with a built in search function. The Expenditure Assistance section can also quickly post updates.
The content is easy to understand, using plain language to describe the subject areas.
- Discusses only some of the legal issues a state agency encounters during its operations, the vast majority are outside its scope.
- Represents the opinion of the Comptroller’s office and does not constitute official legal advice. A state agency should consult the attorney general, internal legal counsel or other appropriate counsel if the agency needs legal advice.