New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter X - Power Authority Of The State Of New York
Part 463 - Prompt Payment Policy
Section 463.5 - Exceptions

Current through Register Vol. 46, No. 12, March 20, 2024

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

(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;

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

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