§ 8975 Warrant Payment Interest Rules

• •If the state doesn't have enough money to pay you when you ask, they will write down your request and owe you interest.
• •The interest starts from the day you first asked for the money, not when they finally pay you.
• •The interest rate is 7% per year until you get your money.

You fix the state's building and send them a bill for $1,000, but they don't have the money to pay you right away.

The state writes down your bill and starts owing you 7% interest every year until they pay you. So, if they pay you after one year, they owe you $1,070.