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Illinois hit with more than $900 million in late-payment penalties

Kevin HoffmanReboot Illinois

Apr 01, 2016

Illinois has been penalized more than $900 million over the past six years for failing to pay its bills on time, reports the State Journal-Register.

The state began racking up millions of dollars in interest penalties on late payments when the recession hit and the bill backlog started to grow, the Civic Federation told SJ-R’s Doug Finke.

Illinois spent just $5 million in late-payment penalties during fiscal year 2006, but by 2008 the total had risen to $30 million before hitting a peak of $318 million in 2013, according to the federation, which tracks interest penalties under the Prompt…

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