N.Y. Comp. Codes R. & Regs. Tit. 6 §§ 645-7.4

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

Section 645-7.4 - Penalty for nonpayment

(a) Any person failing to pay to the commission an annual regulatory fee, or any installment thereof, within 30 days of the date from which such fee is due and payable, must pay a penalty.

(b) The penalty assessed under this section shall be two percent of the deficiency per month or any part of a month.

(c) The penalty required pursuant to this section shall not be imposed during the period in which a regulatory fee is being disputed pursuant to the procedures provided in this Part, provided that the entire undisputed portion of the regulatory fee is paid in full within 30 days after the regulatory fee becomes due and payable. If a person disputing a regulatory fee fails to pay the undisputed portion of the fee, then a penalty shall be assessed for the entire amount of the fee which is determined to be due and payable.

(d) In the event that a person pays the undisputed portion of a penalty pending a request for reconsideration of the fee, no penalty shall be assessed on the disputed amount until 30 days after the request for redetermination is finally determined by the commission. For the purpose of this section, the matter shall be deemed finally determined when the procedures provided for in section 645- 7.5 of this Subpart have been exhausted.

(e) The penalty assessed pursuant to this section is final and irrevocable unless:

(1) the person against whom the penalty was assessed mails by certified mail or hand delivers to the commission within 30 days of the date of the assessment a written request for reconsideration of the penalty; or

(2) the commission independently redetermines the penalty.

Any such request must set forth the basis for the failure to pay the fee. The commission shall have the authority to rescind or reduce a penalty upon a finding that the failure to pay the fee was based upon reasonable cause, and was not willful, due to neglect or other reasonable cause.

N.Y. Comp. Codes R. & Regs. Tit. 6 §§ 645-7.4