Pennsylvania Act 1867-36 — INTEREST ON PUBLIC ACCOUNTS

Act text

INTEREST ON PUBLIC ACCOUNTS
                   Act of Apr. 9, 1867, P.L. 58, No. 36               Cl. 72
                                  AN ACT

     Regulating interest on public accounts.

        Section 2.  Interest to be charged on all balances of taxes
     due from corporations
        In the settlement of all accounts for taxes due the
     Commonwealth, by incorporated companies, or institutions,
     whether the same are incorporated by or under any law of this
     commonwealth, or are incorporated by some other power or
     authority, and lawfully doing business in this Commonwealth, the
     Auditor General and State Treasurer shall charge interest upon
     the balance or balances, found due the Commonwealth by such
     companies, at the rate of twelve per centum per annum, from the
     time said taxes became due and payable, to the time of the
     settlement of the same: Provided, That the payment of interest,
     as aforesaid, shall not relieve such corporations from any of
     the penalties prescribed by law, for neglect or refusal to
     furnish reports to the Auditor General.  1867, April 9, P.L. 58,
     Sec. 2.
        Section 3.  Calculation of interest
        Hereafter all balances due the Commonwealth by any
     corporation, on accounts settled agreeable to the provisions of
     the act of March 30, 1811, or any other act of Assembly, shall
     bear interest from thirty days after the date of settlement, at
     the rate of twelve per centum per annum, until the same is paid.
     1867, April 9, P.L. 58, Sec. 3.