New York Codes, Rules and Regulations
Title 18 - DEPARTMENT OF SOCIAL SERVICES
Chapter II - Regulations of the Department of Social Services
Subchapter L - Homeless Housing And Assistance Program
Part 801 - Prompt Payment Policy Of The New York State Homeless Housing And Assistance Corporation
Section 801.4 - Prompt payment procedure

(a) Each contractor requesting payment from the corporation must submit to the designated payment office of the corporation a proper invoice and adequate documentation to support the payment for goods or services furnished to the corporation. A proper invoice will be paid no later than 30 calendar days, excluding legal holidays, after receipt by such office. The corporation will submit a warrant for payment of a proper invoice to the Department of Taxation and Finance within 30 days of receipt of said proper invoice.

(b) If the corporation fails to submit a warrant for payment of a proper invoice to the Department of Taxation and Finance within the 30-day period described in subdivision (a) of this section, such payment will be subject to interest at a rate equal to the overpayment rate set by the State Tax Commission for corporate taxes pursuant to section 1096 (e)(1) of the Tax Law.

(c) The corporation is not liable for payment of interest when such interest as computed pursuant to the provisions of paragraph (b) of this subdivision is less than $10.

(d) The corporation will pay interest with monies drawn from interest earnings on investments, or from other available sources of funds.