Source: https://code.dccouncil.us/dc/council/code/sections/2-221.03.html
Timestamp: 2019-05-22 09:22:09
Document Index: 460468124

Matched Legal Cases: ['§ 2', '§ 2', '§ 2', '§ 2', '§ 2', '§ 4', '§ 2', '§\u20021', '§ 2', '§ 2']

D.C. Law Library - § 2–221.03. Interest penalty for failure to pay discounted price within specified period.
↪ § 2–221.03. Interest penalty for failure to pay discounted price within specified period.
§ 2–221.02. Rules and regulations governing interest penalty payments by District agencies; computation and payment of penalties.
§ 2–221.03. Interest penalty for failure to pay discounted price within specified period.
(b) Each District agency which violates subsection (a) of this section shall pay an interest penalty of at least 1.5% on any amount which remains unpaid in violation of subsection (a) of this section. The interest penalty shall accrue on the unpaid amount in accordance with the regulations issued pursuant to § 2-221.02, except that the required payment date with respect to the unpaid amount shall be the last day of the specified period of time described in subsection (a) of this section.
(Mar. 15, 1985, D.C. Law 5-164, § 4, 32 DCR 555; Oct. 8, 2016, D.C. Law 21-158, § 2(b), 63 DCR 10752.)
1981 Ed., § 1-1173.
This section is referenced in § 2-221.04.
For temporary (90 days) amendment of this section, see § 2(b) of Procurement Integrity, Transparency, and Accountability Emergency Amendment Act of 2016 (D.C. Act 21-504, Oct. 13, 2016, 63 DCR 12942).