New York Assembly Bill A06573 Latest Draft

   
  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