New York Senate Bill S00096 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 96 2025-2026 Regular Sessions  IN SENATE (Prefiled) January 8, 2025 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Transportation AN ACT to amend the public authorities law, in relation to requiring the metropolitan transportation authority to create an annual report on all minor and major contract cost overruns 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 minor and major contract cost overruns. 5 2. For the purposes of this section, "minor cost change" is defined as 6 a change equal to or greater than ten percent but less than twenty-five 7 percent of the original project cost; "median cost change" is defined as 8 a change equal to or greater than twenty-five percent but less than 9 fifty percent of the original project cost; and "major cost change" is 10 defined as a change equal to or greater than fifty percent of the 11 original project cost. 12 3. Such report shall include, but shall not be limited to: a list of 13 all contracts with minor cost changes, median cost changes, and major 14 cost changes; all contracting firms involved in such contracts; the 15 winning bid amounts of such contracts; the original and actual costs 16 incurred from such contracts, and the difference between the two 17 numbers; a description of the project; completion delays, if any; and a 18 detailed analysis of why the contract bid amount was exceeded. 19 4. Such report shall be in a form prescribed by the authority and 20 shall be accessible in electronic format. 21 5. Each report shall be delivered to the governor, the temporary pres- 22 ident of the senate and the speaker of the assembly on or before the 23 fifteenth of February of each calendar year and shall contain all EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00272-01-5 
 S. 96 2 1 required information and all relevant contracts as required by this 2 section from the preceding calendar year. The first report shall be 3 submitted on the fifteenth of February after the effective date of this 4 section. 5 § 2. This act shall take effect immediately.