Requires the MTA to submit an annual report on all contract cost overruns that exceed one million dollars; such report shall include a list of all contracts where overruns exceed one million dollars, all contracting firms involved, the winning bid amounts, the actual costs incurred, a description of the project, completion delays, and an analysis of why the contract bid amount was exceeded.
STATE OF NEW YORK
________________________________________________________________________
724
2019-2020 Regular Sessions
IN ASSEMBLY(Prefiled)
January 9, 2019
___________
Introduced by M. of A. GLICK -- read once and referred to the Committee
on Corporations, Authorities and Commissions
AN ACT amend the public authorities law, in relation to requiring the
metropolitan transportation authority to create an annual report on
all contract cost overruns that exceed one million dollars
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. The public authorities law is amended by adding a new
2 section 1269-h to read as follows:
3 § 1269-h. Report on contract cost overruns. 1. The authority shall
4 create an annual report on all contract cost overruns which exceed one
5 million dollars.
6 2. Such report shall include, but shall not be limited to: a list of
7 all contracts where overruns exceeded one million dollars; all contract-
8 ing firms involved in such contracts; the winning bid amounts of such
9 contracts; the actual cost incurred from such contracts; a description
10 of the project; completion delays, if any; and a detailed analysis of
11 why the contract bid amount was exceeded.
12 3. Such report shall be in a form prescribed by the authority and
13 shall be accessible in electronic format.
14 4. Each report shall be delivered to the governor, the temporary pres-
15 ident of the senate and the speaker of the assembly on or before the
16 fifteenth of February of each calendar year and shall contain all
17 required information and all relevant contracts as required by this
18 section from the preceding calendar year. The first report shall be
19 submitted on the fifteenth of February after the effective date of this
20 section.
21 § 2. This act shall take effect immediately.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD05697-01-9
