Senate Bill S1786

2009-2010 Legislative Session

Relates to performance and payment bonds

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Finance Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2009-S1786 (ACTIVE) - Details

See Assembly Version of this Bill:
A4093
Current Committee:
Senate Finance
Law Section:
State Finance Law
Laws Affected:
Amd §§137 & 139-f, St Fin L
Versions Introduced in Other Legislative Sessions:
2011-2012: S2830, A2123
2013-2014: A5100

2009-S1786 (ACTIVE) - Summary

Increases the contract threshold for which performance and payment bonds are required for small and certified minority and women owned businesses.

2009-S1786 (ACTIVE) - Sponsor Memo

2009-S1786 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1786

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                            February 6, 2009
                               ___________

Introduced  by  Sen.  STEWART-COUSINS -- read twice and ordered printed,
  and when printed to be committed to the Committee on Finance

AN ACT to amend the state finance law, in relation  to  performance  and
  payment bond requirements

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 137 of the state finance  law,  as
separately  amended  by  section 17 of part MM of chapter 57 and chapter
619 of the laws of 2008, is amended to read as follows:
  1. In addition to other bond or bonds, if any, required by law for the
completion of a work specified in a contract for the  prosecution  of  a
public  improvement for the state of New York a municipal corporation, a
public benefit corporation or a commission appointed pursuant to law, or
in the absence of any such requirement, the comptroller may or the other
appropriate official, respectively, shall nevertheless require prior  to
the  approval of any such contract a bond guaranteeing prompt payment of
moneys due to all persons furnishing labor or materials to the  contrac-
tor or any subcontractors in the prosecution of the work provided for in
such  contract. Whenever a municipal corporation issues a permit subject
to compliance with section two hundred twenty of  the  labor  law,  such
permittee  or  its contractor or subcontractors furnishing workers shall
post a payment bond subject to this section. Provided, however, that all
performance bonds and payment bonds may, at the discretion of  the  head
of the state agency, public benefit corporation or commission, or his or
her  designee,  be dispensed with for the completion of a work specified
in a contract for the prosecution of a public improvement for the  state
of  New  York for which bids are solicited where the aggregate amount of
the contract is under one hundred FIFTY thousand  dollars  and  provided
further,  that in a case where the contract is not subject to the multi-
ple contract award requirements of section one  hundred  thirty-five  of
this  article, such requirements may be dispensed with where the head of

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04469-01-9
              

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