Prompt payment of salaries

§ 2590-s. Prompt payment of salaries. In a city with a population of one million or more, all employees of the board of education shall be paid the amount of compensation due them pursuant to collective bargaining agreements, except as is otherwise provided in section three thousand eleven of this chapter. If such payments are not made on the dates so required, interest shall be recovered beginning thirty days, following the later of the effective date of this section or the required payment date through the day that payment is in fact tendered. In the case of a salary differential, the date compensation is due shall be defined as thirty days following the date an employee's application is filed by the employee with the board of education of the city of New York. Interest shall be computed at the rate set forth in paragraph one of subsection (e) of section one thousand ninety-six of the tax law and shall be added to any compensation amounts referred to in this section that have not been paid when owed.