ยง 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.
Structure New York Laws
Article 11-A - Interest Payments on Certain Amounts Owed by State
179-F - Determination of Eligibility for Payment of Interest on Amounts Owed to Contractors.
179-G - Computation of Interest Payment.
179-H - Determination of Appropriations Against Which Interest Payments Are to Be Charged.
179-I - Exclusion of Interest From Reimbursement Rates.
179-J - Disclaimer of State Responsibility for Interest Payments Incurred by Contractors.
179-K - Acceptance of Payment.
179-L - Provisions to Control.
179-M - Duties of the Comptroller.