N.Y. State Finance Law § 179-g: Computation of interest payment

§ 179-g. Computation of interest payment. Interest payments on amounts

due to a contractor pursuant to this article shall be paid to the

contractor for the period beginning on the day after the required

payment date and ending on the payment date for those payments required

according to this article and shall be paid at the rate of interest in

effect on the date when the interest payment is made. Notwithstanding

any other provision of law to the contrary, interest shall be computed

at the rate equal to the overpayment rate set by the commissioner of

taxation and finance pursuant to subsection (e) of section one thousand

ninety-six of the tax law.