Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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Jan 04, 2012 |
referred to finance |
Feb 02, 2011 |
referred to finance |
Senate Bill S2830
2011-2012 Legislative Session
Sponsored By
(D, WF) 35th Senate District
Archive: Last Bill Status - In Senate Committee Finance Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
(D, WF) Senate District
(D) Senate District
(D) Senate District
(D, WF) Senate District
2011-S2830 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A2123
- Current Committee:
- Senate Finance
- Law Section:
- State Finance Law
- Laws Affected:
- Amd ยงยง137 & 139-f, St Fin L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S1786, A4093
2013-2014: A5100
2011-S2830 (ACTIVE) - Sponsor Memo
BILL NUMBER:S2830 TITLE OF BILL: An act to amend the state finance law, in relation to performance and payment bond requirements PURPOSE: To provide increased performance and payment bond waiver levels for small and certified minority and women-owned businesses. SUMMARY OF PROVISIONS: This bill would increase the contract threshold for which performance and payments bonds for single contracts have been increased to $150,000 and multiple contracts to $300,000 and allows for automatic increases based upon inflation of construction costs. JUSTIFICATION: This proposal is intended to enhance the participation of small, certified minority and women-owned business in public projects. Testimony from an Assembly hearing in 2005 documented that statutory bonding requirements on public projects pose a barrier to the growth of small, certified minority and women-owned contractors. These firms often lack the assets and the record of experience required by bonding companies; yet without bonding they cannot compete for work, and, thus, cannot get the experience and assets they need to become
2011-S2830 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2830 2011-2012 Regular Sessions I N S E N A T E February 2, 2011 ___________ Introduced by Sens. STEWART-COUSINS, ADAMS, HUNTLEY, MONTGOMERY, PERKINS -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the state finance law, in relation to performance and payment bond requirements THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 137 of the state finance law, as separately amended by section 17 of part MM of chapter 57 and chapter 619 of the laws of 2008, is amended to read as follows: 1. In addition to other bond or bonds, if any, required by law for the completion of a work specified in a contract for the prosecution of a public improvement for the state of New York a municipal corporation, a public benefit corporation or a commission appointed pursuant to law, or in the absence of any such requirement, the comptroller may or the other appropriate official, respectively, shall nevertheless require prior to the approval of any such contract a bond guaranteeing prompt payment of moneys due to all persons furnishing labor or materials to the contrac- tor or any subcontractors in the prosecution of the work provided for in such contract. Whenever a municipal corporation issues a permit subject to compliance with section two hundred twenty of the labor law, such permittee or its contractor or subcontractors furnishing workers shall post a payment bond subject to this section. Provided, however, that all performance bonds and payment bonds may, at the discretion of the head of the state agency, public benefit corporation or commission, or his or her designee, be dispensed with for the completion of a work specified in a contract for the prosecution of a public improvement for the state of New York for which bids are solicited where the aggregate amount of the contract is under one hundred FIFTY thousand dollars and provided further, that in a case where the contract is not subject to the multi- ple contract award requirements of section one hundred thirty-five of EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04059-01-1
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