New York Codes, Rules and Regulations
Title 21 - Miscellaneous
Chapter XXXVIII - New York State Project Finance Agency
Part 2301 - Prompt Payment Policy Statement
Section 2301.4 - Reports

Universal Citation: 21 NY Comp Codes Rules and Regs ยง 2301.4

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

(a) Statement filing. Within 30 days of the adoption of this statement, and of any amendments hereto, the agency shall file copies 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.

(b) Annual report. Within 90 days after the end of each fiscal year following January 1, 1989, the agency 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 agency entered into during the 12-month period of the report, with an indication whether each such contract was subject to the prompt payment requirements, and if not, why not;

(2) the number and amount 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 had to be made.

Copies of this 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.

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