Tex. Gov't Code § 2251.027 · Subchapter B. PAYMENTS AND INTEREST
PAYMENT OF INTEREST BY POLITICAL SUBDIVISION.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A political subdivision shall compute interest imposed on the political subdivision under this chapter.
(b) The political subdivision shall pay the interest at the time payment is made on the principal.
(c) The political subdivision shall submit the interest payment with the net amount due for the goods or service.
(d) The political subdivision may not require a vendor to petition, bill, or wait an additional day to receive the interest due.
(e) The political subdivision may not require a vendor or subcontractor to agree to waive the vendor's or subcontractor's right to interest under this chapter as a condition of the contract between the parties.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 1254, Sec. 1, eff. Sept. 1, 1997; Acts 2001, 77th Leg., ch. 1158, Sec. 69, eff. June 15, 2001.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.2251.htm
- Text hash
- sha256 cac38c986983fd4406f4d50873a9272aa9dff991b7ae170df24e1abd1f0f3244
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.