Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
Computation of interest payment
State Finance (STF) CHAPTER 56, ARTICLE 11-A
§ 179-g. Computation of interest payment. Interest payments on amounts
due to a contractor pursuant to this article shall be paid to the
contractor for the period beginning on the day after the required
payment date and ending on the payment date for those payments required
according to this article and shall be paid at the rate of interest in
effect on the date when the interest payment is made. Notwithstanding
any other provision of law to the contrary, interest shall be computed
at the rate equal to the overpayment rate set by the commissioner of
taxation and finance pursuant to subsection (e) of section one thousand
ninety-six of the tax law.