New York A10912 sets interest rates for state agency debts to no more than one percentage point above the consumer price index for urban wage earners.

New York A10912 amends the state finance law to limit interest rates on debts owed to state agencies to no more than one percentage point greater than the consumer price index for urban wage earners and clerical workers per annum. The bill also removes collection fees for debts outside of unpaid taxes, judgments, or restitution to others. The collection fee for these specific debts is capped at the agency's estimated cost of processing, handling, and collecting the debt.

New York A10912 sets interest rates for state agency debts to no more than one percentage point above the consumer price index for urban wage earners.

New York A10912 amends the state finance law to limit interest rates on debts owed to state agencies to no more than one percentage point greater than the consumer price index for urban wage earners and clerical workers per annum. The bill also removes collection fees for debts outside of unpaid taxes, judgments, or restitution to others. The collection fee for these specific debts is capped at the agency's estimated cost of processing, handling, and collecting the debt.