(a) Each government agency which receives property or services from a business but which does not make payment for each such complete delivered item of property or service by the required payment date, shall pay an interest penalty to such business on the amount of the payment which is due as specified in this Article.

(b) Interest penalties on amount due to a business under this Article shall be paid to the business for the period beginning on the day after the required payment date and ending on the date on which payment of the amount due is made, except that no interest
penalty shall be paid if payment for complete delivered item of property or service is made on or before the fifteenth day after the required payment date, in the case of a food product; or the thirtieth day after the required payment date in the case of a perishable agricultural commodity; or the forty-fifth day after the required payment date, in the case of any other item. Interest shall be computed at the same interest rate assessed on unpaid income taxes owed by taxpayers.

(c) Any amount of an interest penalty which remains unpaid at the end of any thirty-day period shall be added to the principle amount of the debt and thereafter interest penalties shall accrue on such added amount.

(d) There is hereby authorized to be appropriated such sums as are necessary for the payment of interest penalties required by this Section.