2 CRR-NY 18.6NY-CRR

STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 2. DEPARTMENT OF AUDIT AND CONTROL
CHAPTER I. AUDIT OF REVENUES AND ACCOUNTS PAYABLE FROM STATE FUNDS AND FUNDS UNDER ITS CONTROL
PART 18. PROMPT PAYMENT PROCESSING
INTEREST CALCULATION
2 CRR-NY 18.6
2 CRR-NY 18.6
18.6 Computation of interest payment.
(a) Interest under this Part shall be computed at the daily rate in effect on the date the interest is paid, as set by the Commissioner of Taxation and Finance pursuant to subsection (e) of section 1096 of the Tax Law.
(b) Interest payments on amounts due to a contractor pursuant to this Part shall be paid to the contractor for the period beginning on the day after the required payment date and ending on the payment date, and shall be paid within seven calendar days after the payment date except where it is necessary for the Division of the Budget to transfer or interchange appropriations in order for the interest to be paid, in which case interest shall be paid within 14 calendar days of the payment date.
2 CRR-NY 18.6
Current through August 31, 2022
End of Document

IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.