21 CRR-NY 9500.3NY-CRR
21 CRR-NY 9500.3
21 CRR-NY 9500.3
9500.3 Interest eligibility.
(a) With the exception of the payments described in subdivision (b) of this section, every payment owed by the trust to a contractor pursuant to a contract is eligible for interest whenever the payment is not made by the required payment date, unless failure to make such payment is the result of a lien, attachment or other legal process against the money due to the contractor.
(b) Payments are not eligible for interest under this Part when they are due and owing:
(1) under the Eminent Domain Procedure Law;
(2) as interest allowed on judgments rendered by a court pursuant to any provision of law;
(3) to the Federal government; to any State agency or its instrumentalities; to any duly constituted unit of local government, including but not limited to counties, cities, towns, villages, school districts, special districts, or any of their related instrumentalities; to any other public authority or public benefit corporation; or to its employees when acting in, or incidental to, their public employment capacity;
(4) in situations where the trust exercises a legally authorized set-off against all or part of the payment due the contractor; or
(5) in situations where payments are processed through the State Department of Audit and Control, the Department of Taxation and Finance or any other entity not under the control of the trust.
21 CRR-NY 9500.3
Current through June 30, 2021
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