SPRINGFIELD, Ill. — The Illinois state comptroller reports that the amount of late charges the state has incurred on billions of dollars in debt outstrips the amount accrued in the previous two decades.
The Associated Press reports that a report Comptroller Susana Mendoza says that that Illinois has run up late-pay fees of $1.14 billion since mid-2015. That’s $100 million more than in the previous 18 years combined.
Illinois must pay 12 percent annual interest on bills not paid within 90 days.