California Government Code

§ 20537

GOV § 20537 Effective Jan 1, 2024Div. 5 · Title 2 · Part 3 · Ch. 5 · Art. 3

Statute text

The board may charge interest on the amount of any payment due and unpaid by a contracting agency until payment is received. Interest shall be charged at a simple annual rate of 10 percent. The interest shall be deemed interest earnings for the year in which the late payment is received.

Legislative history

Amended by Stats. 2023, Ch. 159, Sec. 3. (SB 885) Effective January 1, 2024.