Saving the state as much as $31 million per year could be as easy as the Illinois Comptroller using electronic funds transfer instead of paper checks to pay interest on the state’s overdue bills, according to Senator Tim Bivins.
“Illinois has a law that encourages the state to pay its bills on time, which I support. However, the specific procedures used to implement that law are actually causing more fiscal headaches and wasting state resources,” Senator Bivins said. “I worked with the State Comptroller’s office these past months and we have come up with a good bill that will streamline the process and save the state a lot of money.”
Senate Bill 1728 requires the Illinois State Comptroller to send interest payments to vendors by direct deposit. The bill was passed March 9 by a unanimous vote of the Senate State Government and Veterans Affairs Committee." />Skip to Main Content
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