“We have indentified about 2.6 million checks that are issued by the State Comptroller’s Office to pay interest on money owed to state vendors,” Senator Bivins said. “We have received several estimates, but the Comptroller’s Office just told us today that it costs an average of $18.25 to process a paper check, with paper, postage, labor and equipment. So this change could save the state as much as $47.4 million dollars.”
The 45th District Senator said the inspiration for the legislation came after a constituent showed him a stack of state checks, some written for as little as a few pennies each, far below what it cost to issue the checks.
Passed by a unanimous vote of the Senate April 14, Senate Bill 1728 now moves to the House of Representatives for further consideration.
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