Assembly Bill A9153

2023-2024 Legislative Session

Relates to providing for prompt payment by contractors receiving public funds of amounts owed to small businesses and minority-owned business enterprises

download bill text pdf

Sponsored By

Current Bill Status - In Assembly 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

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2023-A9153 (ACTIVE) - Details

See Senate Version of this Bill:
S8621
Current Committee:
Assembly Governmental Operations
Law Section:
State Finance Law
Laws Affected:
Add §149, St Fin L

2023-A9153 (ACTIVE) - Summary

Requires contractors receiving public funds to pay amounts owed to small businesses and minority-owned business enterprises within seven days of receipt of payment from state agencies.

2023-A9153 (ACTIVE) - Bill Text download pdf

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   9153
 
                           I N  A S S E M B L Y
 
                             February 8, 2024
                                ___________
 
 Introduced  by  M.  of A. BICHOTTE HERMELYN -- read once and referred to
   the Committee on Governmental Operations
 
 AN ACT to amend the state finance law,  in  relation  to  providing  for
   prompt  payment  by contractors receiving public funds of amounts owed
   to small businesses and minority-owned business enterprises
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The  state finance law is amended by adding a new section
 149 to read as follows:
   § 149. PAYMENTS BY CONTRACTORS TO SMALL BUSINESSES AND  MINORITY-OWNED
 BUSINESS ENTERPRISE SUBCONTRACTORS. 1. FOR THE PURPOSES OF THIS SECTION:
   (A) "COVERED PROJECT" MEANS A PROJECT WHICH IS PAID FOR IN WHOLE OR IN
 PART  OUT  OF PUBLIC FUNDS AS SUCH TERM IS DEFINED IN THIS SECTION WHERE
 THE AMOUNT OF ALL SUCH PUBLIC FUNDS, WHEN AGGREGATED, IS AT LEAST THIRTY
 PERCENT OF THE TOTAL PROJECT COSTS AND WHERE SUCH PROJECT COSTS ARE OVER
 FIVE MILLION DOLLARS.
   (B) "PAID FOR IN WHOLE OR IN PART OUT OF PUBLIC FUNDS"  MEANS  ANY  OF
 THE FOLLOWING:
   (I)  THE PAYMENT OF MONEY, BY A PUBLIC ENTITY, OR A THIRD PARTY ACTING
 ON BEHALF OF AND FOR THE BENEFIT OF A PUBLIC ENTITY, DIRECTLY TO  OR  ON
 BEHALF  OF THE CONTRACTOR, SUBCONTRACTOR, DEVELOPER OR OWNER THAT IS NOT
 SUBJECT TO REPAYMENT; OR
   (II) THE SAVINGS ACHIEVED FROM FEES, RENTS, INTEREST RATES,  OR  OTHER
 LOAN  COSTS,  OR  INSURANCE COSTS THAT ARE LOWER THAN MARKET RATE COSTS;
 SAVINGS FROM REDUCED TAXES AS A RESULT OF TAX CREDITS,  TAX  ABATEMENTS,
 TAX EXEMPTIONS OR TAX INCREMENT FINANCING; SAVINGS FROM PAYMENTS IN LIEU
 OF  TAXES; AND ANY OTHER SAVINGS FROM REDUCED, WAIVED, OR FORGIVEN COSTS
 THAT WOULD HAVE OTHERWISE BEEN AT A HIGHER OR MARKET RATE  BUT  FOR  THE
 INVOLVEMENT OF THE PUBLIC ENTITY.
   (C)  "CONTRACT"  MEANS  AN  ENFORCEABLE  AGREEMENT  ENTERED  INTO BY A
 CONTRACTOR AND A SUBCONTRACTOR.
   (D) "CONTRACTOR" MEANS ANY PERSON, PARTNERSHIP, FIRM, CORPORATION,  OR
 ASSOCIATION:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14364-01-4
              

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