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Illinois' Unpaid Bills Costing You

Story Created: Mar 8, 2013 at 11:17 AM CDT

Story Updated: Mar 8, 2013 at 11:20 AM CDT

Illinois owes $9 billion in unpaid bills. But did you know that because the state doesn't pay on time, as a taxpayer, you are paying millions in late fees? 

The main job for Comptroller Judy Barr Topinka is to pay Illinois' bills. But, when you owe $9 billion, that job is pretty difficult.

And when the state can't pay its vendors on time? That costs you even more. The state paid nearly $90 million in late fees last year. The reason for that is The Prompt Payment Act, which means after 60 days--

"We have to start paying interest which amounts to 12 percent a year," Topinka said.

 

Story by NwsChannel20.
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