Late interest payments on Illinois debt cost taxpayers more than $1 million

News
1280x720_60217C00-MZALD_1524524711689.png

The Illinois House has passed a budget aimed at making governors more accountable when it comes to interest due on the state’s budget.

The legislation passed unanimously on Friday. It would require governors to identify and account for the cost of late payment interest penalties in their budget proposals.

Over the last few budgets, Illinois fell behind on paying its bills, costing taxpayers more than $1 billion in interest penalties.

Currently, state agencies are faced with determining whether to use their appropriations for late payments or for services.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest News Video

Made in the Stateline

More Made in the Stateline

Education Matters

More Education Matters

Behind the Badge

More Behind the Badge

Stateline Strong

More Stateline Strong

Days

Hours

Minutes

Seconds

Trending Stories