Billing for department expenses. Penalties for failure to comply.

(b) Each such person or business organization shall be billed for such expenses on a quarterly basis or at the conclusion of the investigation, as determined by the commissioner. Failure on the part of the person or business organization to remit payment within fifteen days after receipt of an invoice from the department shall constitute grounds to refuse to grant approval of the request of the person or business organization for which such investigation was undertaken, or in the case of a licensee, failure to remit payment within fifteen days shall, in addition, constitute grounds for the commissioner: (1) To suspend or revoke such license; (2) to impose a fine of not more than two thousand five hundred dollars or, if the licensee is licensed to conduct a meeting or operate an off-track betting system under subsection (a) of section 12-575 , a fine of not more than seventy-five thousand dollars; (3) to rescind the applicable contract; or (4) to impose any combination of such penalties.