All of the following conditions shall apply for the payment of interest by a political subdivision:
(a) The required payment date shall be:
1. the date on which payment is due under the terms of the contract for the provision of the property or service; or
2. thirty calendar days after receipt of a proper invoice for the amount of the payment due if a specific date on which payment is due is not established by contract.
(b) Separate required payment dates for contracts under which property or services are provided in a series of partial executions or deliveries shall be established to the extent that the contract provides for separate payment of the partial execution or delivery.
(c) Prior to the date upon which payment without an interest penalty is due, a political subdivision shall notify the qualified small business concern of any defect in goods and services or impropriety in the invoice which would prevent the running of the time periods specified in this paragraph.
Credits
1929, April 9, P.L. 343, No. 176, art. XVI-C, § 1604-C, added 1994, Dec. 12, P.L. 1015, No. 138, § 6, effective in 180 days.
72 P.S. § 1604-C, PA ST 72 P.S. § 1604-C
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
