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Late Payment Interest Rate Increases for Fiscal 2018

The interest rate the state pays on a late payment due to a vendor under the state’s prompt payment law will be 5.25 percent for fiscal 2018. 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 on eXpendit (FPP I.005).

HB 3849 Limits New Accounts, Funds and Revenue Dedications

House Bill 3849, 85th Legislature, Regular Session, continues the policy of the Legislature to limit the number of new general revenue accounts, special funds and dedications of revenue.

A summary of HB 3849 is available at Funds Consolidation: Limits on New General Revenue Accounts, Special Funds and Dedications of Revenue (FPP A.046).

Glenn Hegar
Texas Comptroller of Public Accounts
Questions? Contact statewide.accounting@cpa.texas.gov
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