For fiscal 2026, the interest rate the state pays on a late payment to a vendor under the state’s prompt payment law will be 8.5 percent. The interest calculation is one percentage point higher than the prime rate published in the Wall Street Journal on the first business day of July.
See Interest Rate on eXpendit (FPP I.005) for more information.
The 89th Legislature updated Article IX of the General Appropriations Act (GAA); changes take effect Sept. 1. See Changes to Article IX of the GAA and Other Bills of Interest to State Agencies (FPP F.008) for a summary of GAA changes and other legislation that affects state agencies.
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Statewide Procurement Division (SPD) also offers a variety of training. Check out these Training Opportunities for Purchasers.