Section 179-J. Disclaimer of state responsibility for interest payments incurred by contractors  


Latest version.
  • 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.