Assembly Bill A4093

2009-2010 Legislative Session

Relates to performance and payment bonds

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly 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-A4093 (ACTIVE) - Details

See Senate Version of this Bill:
S1786
Current Committee:
Assembly Governmental Operations
Law Section:
State Finance Law
Laws Affected:
Amd §§137 & 139-f, St Fin L
Versions Introduced in Other Legislative Sessions:
2011-2012: A2123, S2830
2013-2014: A5100

2009-A4093 (ACTIVE) - Summary

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

2009-A4093 (ACTIVE) - Bill Text download pdf

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

                                  4093

                       2009-2010 Regular Sessions

                          I N  A S S E M B L Y

                            January 30, 2009
                               ___________

Introduced  by  M. of A. MILLMAN, DESTITO, PEOPLES -- Multi-Sponsored by
  -- M. of A. BENJAMIN, BRODSKY, CLARK, COOK, ESPAILLAT, FIELDS, GREENE,
  HYER-SPENCER, PERRY, P. RIVERA, WEPRIN -- read once  and  referred  to
  the Committee on Governmental Operations

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-

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

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