New York Consolidated Laws
N.Y. State Finance Law § 16 (2026)
Rate of interest on judgments and accrued claims against the state
✓ current as of May 2026
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§ 16. Rate of interest on judgments and accrued claims against the state. The rate of interest to be paid by the state upon any judgment or accrued claim against the state shall not exceed nine per centum per annum.
Notes of Decisions
Cited in 16
cases, 1985–2020 · leading case: Denio v. State of New York, 851 N.E.2d 1153 (NY 2006).
Denio v. State of New York, 851 N.E.2d 1153 (NY 2006). “The issue in this personal injury case is whether the Court of Claims erred by applying a nine percent ratethe maximum rate allowed under State Finance Law § 16for prejudgment and postjudgment interest against the State of New York.”
Auer v. State, 283 A.D.2d 122 (N.Y. App. Div. 2001). “) denied, as premature, claimants’ request to redesignate portions of the future damages award as past damages and concluded that the presumptively reasonable 9% interest rate set forth in State Finance Law § 16 was “unreasonably high” because of the “consistent several…”
Metro. Transp. Auth. v. Am. Pen Corp., 723 N.E.2d 50 (NY 1999). “Lewis, Bill Jacket, L 1969, ch 1102; see also, L 1966, ch 921 [amending State Finance Law § 16 to *160 provide for a 6% interest rate on condemnation awards against the State in contrast to the 4% rate otherwise applicable]; 1966 Report of Committee on Land Acquisition Law and…”
520 East 81st Street Assocs. v. State, 780 N.E.2d 518 (NY 2002). “State Finance Law § 16 provides that the “rate of interest to be paid by the state upon any judgment or accrued claim against the state shall not exceed nine per centum per annum.”
Albuquerque Commons P'ship v. City Council of Albuquerque, 2009 NMCA 65 (N.M. Ct. App. 2009). “The majority of jurisdictions do permit the recovery of post-judgment interest against the state or political subdivisions, either by statute, by case law, or by both.”
Alb. Commons P'ship v. City Council, 212 P.3d 1122 (N.M. Ct. App. 2009). “The majority of jurisdictions do permit the recovery of post-judgment interest against the state or political subdivisions, either by statute, by case law, or by both.”
Karagiannis v. New York State Thruway Auth., 209 A.D.2d 993 (N.Y. App. Div. 1994). “We modify the judgment appealed from by adding *994 prejudgment interest to the present value of claimant’s future damages, and we remit the matter to the Court of Claims to determine the amount of prejudgment interest from the date of determination of liability to the date of…”
Auer v. State, 289 A.D.2d 626 (N.Y. App. Div. 2001). “) determined, inter alia, that portions of the damage award must be modified and that an interest rate less than the presumptively reasonable 9% rate set forth in State Finance Law § 16 should be applied.”
Denio v. State, 11 A.D.3d 914 (N.Y. App. Div. 2004). “, 91 NY2d 76, 80-81 [1997]; Auer v State of New York, 283 AD2d 122, 126 [2001]; see generally State Finance Law § 16). Present—Green, J.”
Davila v. State of New York, 2020 NY Slip Op 2961 (N.Y. App. Div. 2020). “v Levitt , 36 NY2d 264, 267 [1975]; see CPLR 5001-5004; State Finance Law § 16; Court of Claims Act § 20 [7]).”
Guido v. State, 187 Misc. 2d 647 (2000). “Prior to said submission date, the parties further agreed to submit a single proposed judgment, but, on June 29, 2000, defendant’s attorney advised claimants that the State was essentially withdrawing its consent to the use of the statutory 9% rate for postverdict and…”
Pay v. State, 176 Misc. 2d 540 (1998). “This is certainly the case, as the clerk must compute prejudgment interest (see, CPLR 5002) and a fixed rate no longer exists for cases governed by State Finance Law § 16 (see, Rodriguez v New York City Hous.”
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