Minnesota Administrative Rules

7856.7020 INTEREST.

If a retailer fails to pay any amount due to the lottery within the time required, the retailer shall owe interest on the unpaid amount due during each fiscal year at the rate of five percent in excess of the discount rate on 90-day commercial paper in effect on the previous July 1 at the Federal Reserve Bank in the Federal Reserve District encompassing Minnesota.

Statutory Authority:

MS s 349A.05

History:

14 SR 2315

Published Electronically:

November 8, 2006