Senate Bill S4630

2009-2010 Legislative Session

Relates to bonds to secure payment of certain claims

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Sponsored By

Archive: Last Bill Status - In Senate Committee Rules 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-S4630 (ACTIVE) - Details

Current Committee:
Senate Rules
Law Section:
State Finance Law
Laws Affected:
Amd ยง137, St Fin L

2009-S4630 (ACTIVE) - Summary

Relates to bonds to secure payment of certain claims.

2009-S4630 (ACTIVE) - Sponsor Memo

2009-S4630 (ACTIVE) - Bill Text download pdf

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

                                  4630

                       2009-2010 Regular Sessions

                            I N  S E N A T E

                             April 27, 2009
                               ___________

Introduced  by  Sen. ONORATO -- 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  bonds  to  secure
  payment of certain claims

  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, AND  THE
FISCAL  OFFICER HAS THE POWER TO ENFORCE SUCH COMPLIANCE, 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 thousand dollars and provided further,
that in a case where  the  contract  is  not  subject  to  the  multiple
contract  award  requirements of section one hundred thirty-five of this

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD10691-02-9
              

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