NYC Council Introduction 1247

intro.nyc/1247-2025 2024-2025 Legislative Session
Disbursement of a percentage of awards to non-profit organizations for contracts immediately upon registration by the comptroller.
Status: Laid Over in Committee Committee on Contracts
Sponsored by Adrienne E. Adams
Introduced: April 24, 2025

This bill would require the Procurement Policy Board to promulgate rules requiring the immediate disbursement of 80 percent of a fiscal year’s contract funds for agency contracts with non-profit organizations for goods, services or construction upon registration by the Comptroller and upon the start of each subsequent fiscal year, and to establish a process to recover funds for which the agency does not ultimately receive and accept the agreed-upon goods, services or construction.