N.Y. Comp. Codes R. & Regs. tit. 21 § 4701.14

Current through Register Vol. 46, No. 50, December 11, 2024

Section 4701.14 - Annual report

(a) The authority shall annually prepare a report on the scope and implementation of its prompt payment policy which shall include, but not be limited to:

(1) a listing of the types of categories of contracts which the authority entered into during the 12-month period covered by the report together with a brief indication of whether each type or category of contract was subject to the prompt payment requirements promulgated by the authority and, if not, why not;

(2) the number and amounts of interest payments made for contracts arranged according to each such type of category;

(3) the number of interest chargeable days and the total number of days taken to process each late contract payment; and

(4) a summary of the principal reasons that such late payments occurred.

(b) Within 90 days after the completion of its fiscal year, the authority shall file copies of the report required by subdivision (a) of this section 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.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 4701.14