N.Y. Comp. Codes R. & Regs. tit. 21 § 5907.5

Current through Register Vol. 46, No. 45, November 2, 2024

Section 5907.5 - Exceptions

Payments are not eligible for interest when they are due and owing by the foundation:

(a) under the Eminent Domain Procedure Law;

(b) as interest allowed on a judgment by a court pursuant to any provision of law other than section 2880 of the Public Authorities Law;

(c) 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, 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; or

(d) in situations where the foundation exercises a legally authorized setoff against all or part of the payment due the contractor.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 5907.5