179-J - Disclaimer of state responsibility for interest payments incurred by contractors. - New York Statutes

§ 179-j. Disclaimer of state responsibility for interest payments incurred by contractors. In the event that an interest payment is made by a contractor in the course of transacting business with any entity other than a state agency, such interest shall not be an obligation of the state and the state shall not reimburse the contractor for such interest, nor shall any moneys expended for such interest payments be counted toward any matching requirement applicable to grants or payments of state funds unless expressly permitted by statute or regulation.