§ 179-G — Computation of interest payment

§ 179-g. Computation of interest payment. Interest payments on amounts\ndue to a contractor pursuant to this article shall be paid to the\ncontractor for the period beginning on the day after the required\npayment date and ending on the payment date for those payments required\naccording to this article and shall be paid at the rate of interest in\neffect on the date when the interest payment is made. Notwithstanding\nany other provision of law to the contrary, interest shall be computed\nat the rate equal to the overpayment rate set by the commissioner of\ntaxation and finance pursuant to subsection (e) of section one thousand\nninety-six of the tax law.\n