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A06573 Summary:

BILL NOA06573
 
SAME ASNo Same As
 
SPONSORRajkumar
 
COSPNSR
 
MLTSPNSR
 
Amd §332, NYC Chart
 
Requires prompt payment within thirty days for not-for-profit organizations under procurement contracts with the city of New York.
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A06573 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6573
 
                               2025-2026 Regular Sessions
 
                   IN ASSEMBLY
 
                                      March 6, 2025
                                       ___________
 
        Introduced by M. of A. RAJKUMAR -- read once and referred to the Commit-
          tee on Cities
 
        AN  ACT  to  amend  the New York city charter, in relation to the timely
          payment  of  not-for-profit  organizations  pursuant  to   procurement
          contracts with the city of New York
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 
     1    Section 1. Short title.  This act shall be known and may be  cited  as
     2  the "get nonprofits paid act".
     3    § 2. Section 332 of the New York city charter is amended by adding two
     4  new subdivisions c and d to read as follows:
     5    c.  Notwithstanding  any  provision  of  this section to the contrary,
     6  payments pursuant to contracts with not-for-profit  organizations  shall
     7  be  made  promptly  in  accordance  with the terms of such contracts and
     8  within thirty days, excluding legal holidays,  from  the  execution  and
     9  filing of such contract with the comptroller.
    10    d.  The payment time frames set forth in subdivision c of this section
    11  may be waived if the city comptroller  can  provide  the  not-for-profit
    12  contractor  with  a  non-interest  bearing  short-term  loan through the
    13  returnable grant fund or other financial institution; or in execution of
    14  emergency measures whenever the mayor, pursuant to section 3-104 of  the
    15  administrative  code  of  the city of New York, declares that a state of
    16  emergency exists. Any not-for-profit organization receiving a loan under
    17  this subdivision shall be ineligible to receive interest  and  shall  be
    18  ineligible to receive advance payments on such contract.
    19    § 3. This act shall take effect three years after it shall have become
    20  a law.
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD10522-01-5
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