Section 55.03(1), Florida Statutes, authorizes the Comptroller, on December 1 of each year, to set the rate of interest that shall be payable on judgment and decrees for the year beginning the following January 1. Rule 3A-25, Florida Administrative Code, establishes the procedures for computing the interest rate. For calendar year 2000, the interest rate has been set at 10.0% per annum, or .02740% per day.

Additionally, Sections 215.422(3)(b), 337.141(3) and 687.01, Florida Statutes, require the use of interest at the rate established in Section 55.03(1), Florida Statutes, for the payment of interest applicable to the late payments to vendors for goods and services purchased by the State, for late payments on applicable construction or maintenance contracts administered by the Department of Transportation, and for cases where a rate of interest is not specified in a contract. The interest rate for payments to health care providers pursuant to Section 215.422(13), Florida Statutes, remains at 1% per month or .03333% per day.

Current and prior year interest rates can be found on the internet at the Comptroller's home page: www.dbf.state.fl.us

If additional information is needed, please call Reuben Helms at 410-9354, Suncom 210-9354.

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