N.Y. Comp. Codes R. & Regs. tit. 21 § 753.5

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

Section 753.5 - Annual report

(a) The trust shall prepare an annual report on the scope and implementation of this prompt payment policy. The report shall include, but not be limited to, the following:

(1) a listing of the types or categories of contracts which the trust entered into during the 12-month fiscal year covered by the report with an indication whether each such type or category of contract was subject to this prompt payment policy, and if it was not, the reason(s) why not;

(2) the number and amounts of interest payments made for contracts, arranged according to each such type or 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 why such late payments occurred.

(b) Within 90 days after the completion of each such fiscal year, copies of this annual report shall be filed 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.

(c) Copies of its annual report shall be made available to the public upon reasonable request at the trust's main office.

N.Y. Comp. Codes R. & Regs. Tit. 21 § 753.5