The authority shall have the power to amend this Part by promulgating amended rules and regulations at any time, and within 30 days of the adoption of any such amendments hereto, the authority shall file copies with the State Comptroller, the State Director of the Budget, the Chairman of the Senate Finance Committee, and the Chairman of the Assembly Ways and Means Committee.

The policy statement in effect at the time that a contract is entered into is hereby incorporated into and made a part of that contract.

The authority shall make copies of this policy statement available to the public upon reasonable request at the authority's main office. The authority shall also provide a copy of this policy statement to each contractor at or prior to the time a contract is entered into.

This policy is not applicable to payments due and owing by the authority to any other governmental entity, agency, public benefit corporation or the employees thereof when acting in or incidental to their public employment capacity, to interest on judgments rendered by a court against the authority pursuant to any other provision of law, or to situations where the authority exercises a legally authorized set-off against all or part of a payment due a contractor.

The authority is under no liability to pay interest pursuant to this policy for any period after a contractor has filed a claim, given notice of an intention to file a claim or commenced legal action seeking any payment of interest; interest during such period shall only be paid as directed by the court in accordance with such other provisions of law as may be applicable.

This Part shall be interpreted consistent with and to fulfill the purposes of section 2880 of the Public Authorities Law.