Prompt Payment – Comptroller Policy
IRS Notification
Agencies are responsible for notifying the IRS of interest paid. See USAS Procedures for 1099 Reporting (FPP E.001).
Definitions
- State agency
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- A board, commission, department, office or other agency in the executive branch of state government created by the constitution or a statute of this state, including an institution of higher education as defined by Texas Education Code Section 61.003.
- The Legislature or a legislative agency.
- The Supreme Court, the Court of Criminal Appeals, a court of appeals, a state judicial agency or the State Bar of Texas.