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1997 SESSION

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973215801
SENATE BILL NO. 734 Offered January 8, 1997 A BILL to amend and reenact § 11-62.7 of the Code of Virginia, relating to reporting of late payments. ---------- Patron-- Schrock ---------- Referred to the Committee on General Laws ----------

Be it enacted by the General Assembly of Virginia:

1. That § 11-62.7 of the Code of Virginia is amended and reenacted as follows:

§ 11-62.7. Comptroller to file annual report.

The Secretary of Administration Comptroller shall file an annual report with the Governor, the Senate Finance Committee, the House Finance Committee and the House Appropriations Committee on November 1 for the preceding fiscal year including (i) the number and dollar amounts of late payments by departments, institutions and agencies, (ii) the total amount of interest paid and (iii) specific steps being taken to reduce the incidence of late payments.