2020 New York Laws
STF - State Finance
Article 11-A - Interest Payments on Certain Amounts Owed by State
179-D - Legislative Intent.

§  179-d. Legislative intent. Firms and organizations that do business
  with the state of New York expect and deserve to be paid in a prompt and
  timely manner.   Unjustified  delays  in  paying  vendors,  construction
  contractors,  and  providers  of  service  may discourage such firms and
  organizations from doing business with the state of  New  York  and  may
  ultimately  increase  the  costs  to  the state government of purchasing
  materials,  equipment,  and  supplies;  undertaking   construction   and
  reconstruction  projects;  and  obtaining a wide variety of professional
  and other specialized services including  those  that  are  provided  to
  persons  in need.  Consequently, this legislation sets standards for the
  payment of bills incurred by state agencies within specified periods  of
  time  and  requires  interest  payments  in  situations  where  contract
  payments do not conform to these  standards.  Consistent  with  accepted
  business practices and with sound principles of fiscal management, it is
  the  intent of this legislation to encourage state agencies in all three
  branches of state government to make payments at least as  expeditiously
  as  they  currently do and further to reduce existing payment processing
  times whenever feasible, while at the same  time  permitting  the  state
  agencies to perform proper and reasonable financial oversight activities
  designed  to  ensure  that  the state government receives the quality of
  goods and services to which it is entitled and  to  ensure  that  public
  funds are spent in a prudent and responsible manner.