State Codes and Statutes
Statutes > Rhode-island > Title-42 > Chapter-42-11-1 > 42-11-1-7SECTION 42-11.1-7
§ 42-11.1-7 Determination ofappropriations for interest payments. – Except in situations when federal law or other provisions of this chapterrequire otherwise, an interest payment required by this chapter shall be paidfrom the same appropriation as that from which the related proper invoice ispaid, provided, however, that the interest payment shall not reduce the amountof money that otherwise will be payable to the contractor under the terms ofthe relevant contract and that if the obligation to make an interest payment isincurred in whole or in part because it takes the controller's office more thanseventeen (17) working days from the date it receives an approvable voucherfrom another state agency, excluding legal holidays, to process a contractpayment, then the portion of the total interest payment that is attributable todelays by the controller's office shall be paid from funds made available tothe controller's office. Notwithstanding any other provision of law to thecontrary, if the amount of money available from any above mentionedappropriation to the state agency which received the proper invoice isinsufficient to pay the interest and if for any reason it is not feasible forthe director of the budget to exercise the transfer or interchange authority,the director of the budget may issue a voucher or vouchers transferring orinterchanging within a fund such amount as is needed to pay the interest to theappropriation within the fund from the unspent balance of any appropriationthat is available to the same state agency. In exercising the latter transferor interchange authority, the director of the budget shall transfer orinterchange amounts that are not needed to accomplish the purposes for whichthe appropriation was made, except, however, the director of the budget may, tothe extent he or she deems it practicable, transfer or interchange amounts fromappropriations that otherwise would be available for the administration andoperations of the state agency which incurred the interest payment. Any suchvoucher or vouchers issued by the director of the budget shall be sent to thestate controller.
