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The Laws of New York
Consolidated Laws of New York
CHAPTER 56
State Finance
ARTICLE 11-A
Interest Payments On Certain Amounts Owed By State
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SECTION 179-I
Exclusion of interest from reimbursement rates
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ARTICLE 11-A
Interest Payments On Certain Amounts Owed By State
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SECTION 179-K
Acceptance of payment
This entry was published on 2014-09-22
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SECTION 179-J
Disclaimer of state responsibility for interest payments incurred by contractors
State Finance (STF) CHAPTER 56, ARTICLE 11-A
§ 179-j. Disclaimer of state responsibility for interest payments
incurred by contractors. In the event that an interest payment is made
by a contractor in the course of transacting business with any entity
other than a state agency, such interest shall not be an obligation of
the state and the state shall not reimburse the contractor for such
interest, nor shall any moneys expended for such interest payments be
counted toward any matching requirement applicable to grants or payments
of state funds unless expressly permitted by statute or regulation.