Section 13-210-13 - Payment(a) Within thirty days following receipt of an invoice from the managing partner at the beginning of each fiscal year in which the State has approved and appropriated funding under the program, the State shall pay to the managing partner an amount equal to one-third of the State's annual matching share based on the approved budget.(b) Within thirty days following receipt of an invoice and the six-month progress report as provided in section 13-210-12(b) for each year until the partnership agreement. is terminated, the State shall pay to the managing partner an additional amount up to, but not exceeding one-third of the State's annual matching share based on the approved budget. The managing partner may request less than the full one-third amount due if the lesser amount is sufficient as a progress payment. This payment shall not be subject to the division's approval of the six-month progress report.(c) Within thirty days of receipt of an invoice and upon acceptance of the annual report by the department as provided in section 13-210-12(c)(2), the State shall pay to the managing partner the balance of the approved, matching funds for the year, calculated on the basis of-actual expenditures. (1) If the State's initial and additional payments, as provided in subsections (a) and (b), total more than two-thirds of the actual final expenditures reported by the managing partner, the managing partner shall return the difference with interest owed to the State as follows: (A) Interest will be calculated at the floating rate as quoted in the Wall Street Journal on the first business day of each month for $100,000 and above certificates of deposit;(B) The interest rate shall fluctuate to match the quoted rate for each month of overpayment by the State;(C) Interest shall be compounded daily; and(D) The final payment shall be subject to any withheld amounts as outlined in the partnership agreement.[Eff JAN 08 1999] (Auth: HRS § 195-6.5(b) (5)) (Imp: HRS §§ 195-6.5(a), 195-6.5(b) (2))