S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7820
 
                        2025-2026 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              April 11, 2025
                                ___________
 
 Introduced  by  M.  of  A.  GALLAGHER  --  read once and referred to the
   Committee on Governmental Operations
 
 AN ACT to amend the limited liability company law and the executive law,
   in relation to establishing a publicly available database of  business
   entities  in  the  state  that  enter  into procurement contracts with
   procuring entities in the state
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  Section  1106  of  the  limited  liability company law is
 amended by adding two new subdivisions (e) and (f) to read as follows:
   (E) "PROCUREMENT CONTRACT" SHALL MEAN:
   (I) ANY CONTRACT OR OTHER AGREEMENT VALUED IN EXCESS OF FIFTY THOUSAND
 DOLLARS, INCLUDING BUT NOT LIMITED TO: SINGLE OR SOLE SOURCE  CONTRACTS;
 PURCHASE  ORDERS; AND AMENDMENTS, EXTENSIONS, RENEWALS, OR CHANGE ORDERS
 TO AN EXISTING CONTRACT, OTHER THAN AMENDMENTS, EXTENSIONS, RENEWALS, OR
 CHANGE ORDERS THAT ARE AUTHORIZED AND PAYABLE UNDER  THE  TERMS  OF  THE
 CONTRACT  AS  SUCH  CONTRACT  WAS  FINALLY  AWARDED,  FOR  AN ARTICLE OF
 PROCUREMENT;
   (II) ANY ACQUISITION OR DISPOSITION OF REAL PROPERTY WITH THE STATE OF
 NEW YORK OR ANY AGENCY OR ENTITY AFFILIATED WITH THE STATE OF NEW  YORK;
 OR
   (III)  THE  ACQUISITION  OF  OFFICE  SPACE  BY  THE  OFFICE OF GENERAL
 SERVICES OR ANY OTHER STATE GOVERNMENTAL  ENTITY  INCLUDING  WHETHER  BY
 PURCHASE, CONDEMNATION, EXCHANGE OR LEASE.
   (F) "PROCURING ENTITY" SHALL MEAN:
   (I) ANY STATE AGENCY, DEPARTMENT, BOARD, BUREAU, DIVISION, COMMISSION,
 COMMITTEE, COUNCIL, OFFICE, STATE UNIVERSITY OF NEW YORK, CITY UNIVERSI-
 TY  OF  NEW YORK, OR OTHER GOVERNMENTAL ENTITY PERFORMING A GOVERNMENTAL
 OR PROPRIETARY FUNCTION FOR THE STATE; AND
   (II) ANY COVERED AUTHORITY, AS DEFINED IN SECTION TWO-A OF  THE  STATE
 FINANCE LAW.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD09410-01-5
              

 A. 7820                             2
 
   §  2. Subdivision (f) of section 1107 of the limited liability company
 law, as added by chapter 102 of the laws of 2024, is amended to read  as
 follows:
   (f)  All  information  relating  to  beneficial owners who are natural
 persons collected by the department of state  in  accordance  with  this
 section  shall  be  maintained  in a secure database and shall be deemed
 confidential except: (1) pursuant to the written request of or by volun-
 tary written consent of the beneficial owner; (2) by court order; (3) to
 officers or employees of another  federal,  state  or  local  government
 agency where disclosure is necessary for the agency to perform its offi-
 cial  duties  as  required  by statute or necessary to operate a program
 specifically authorized by law; [or] (4) for  a  valid  law  enforcement
 purpose  including  as  relevant to any law enforcement investigation by
 the office of the attorney general; OR  (5)  IF  THE  REPORTING  COMPANY
 ENTERS INTO A PROCUREMENT CONTRACT WITH A PROCURING ENTITY.  Any benefi-
 cial ownership information disclosed by department of state shall not be
 further  disclosed  by  any  recipient except as authorized in law or as
 otherwise necessary to the performance of statutory duties.
   § 3. The executive law is amended by adding a  new  section  100-b  to
 read as follows:
    §  100-B.  BUSINESS  ENTITY  DATABASE. 1. FOR ALL REPORTING COMPANIES
 THAT ENTER INTO PROCUREMENT CONTRACTS WITH A PROCURING ENTITY AS DEFINED
 IN SECTION ELEVEN HUNDRED SIX OF THE LIMITED LIABILITY COMPANY LAW,  THE
 SECRETARY  OF  STATE SHALL MAINTAIN A PUBLICLY AVAILABLE DATABASE ON ITS
 WEBSITE FOR EACH BUSINESS ENTITY ORGANIZED IN NEW YORK  STATE  AND  EACH
 FOREIGN BUSINESS ENTITY WITH AUTHORITY TO DO BUSINESS IN THE STATE, THAT
 INCLUDES BUT IS NOT LIMITED TO, THE FOLLOWING INFORMATION:
   (A) THE NAME OF THE BUSINESS ENTITY;
   (B)  THE HISTORY OF SUCH NAME AND CHANGES TO SUCH NAME, WHERE APPLICA-
 BLE;
   (C) THE CURRENT BUSINESS STREET ADDRESS AND THE COUNTY ASSOCIATED WITH
 SUCH BUSINESS STREET ADDRESS;
   (D) THE DURATION OR DATE OF DISSOLUTION OF THE BUSINESS ENTITY,  WHERE
 APPLICABLE;
   (E) WHERE THE BUSINESS ENTITY IS A LIMITED LIABILITY COMPANY, THE DATE
 OF INITIAL FILING OF THE ARTICLES OF ORGANIZATION, OR WHERE THE BUSINESS
 ENTITY  IS  A  FOREIGN  LIMITED  LIABILITY  COMPANY, THE APPLICATION FOR
 AUTHORITY;
   (F) THE DATE OF THE MOST RECENT FILING;
   (G) THE FILING HISTORY ASSOCIATED WITH SUCH ENTITY; AND
   (H) ANY OTHER INFORMATION PERTAINING TO SUCH BUSINESS ENTITY AS MAY BE
 DETERMINED BY THE SECRETARY OF STATE AND IN ACCORDANCE  WITH  APPLICABLE
 STATE AND FEDERAL LAWS, RULES, AND REGULATIONS.
   2.  (A)  IN ADDITION TO THE INFORMATION REQUIRED TO BE INCLUDED IN THE
 DATABASE PURSUANT TO SUBDIVISION ONE OF THIS SECTION, THE  SECRETARY  OF
 STATE SHALL ALSO INCLUDE THE FULL LEGAL NAME OR NAMES OF EACH BENEFICIAL
 OWNER, FOR EVERY LIMITED LIABILITY COMPANY AND FOREIGN LIMITED LIABILITY
 COMPANY WHERE SUCH COMPANIES ARE ALSO REPORTING COMPANIES.
   (B)  THE  SECRETARY  OF  STATE  SHALL  ESTABLISH, THROUGH REGULATIONS,
 PROCEDURES TO ALLOW BENEFICIAL OWNERS OF LIMITED LIABILITY COMPANIES AND
 FOREIGN LIMITED LIABILITY COMPANIES WHO ARE ALSO REPORTING COMPANIES WHO
 CITE SIGNIFICANT PRIVACY INTERESTS TO APPLY FOR A WAIVER TO WITHHOLD THE
 NAME AND/OR BUSINESS ADDRESS ASSOCIATED OF A BENEFICIAL OWNER  FROM  THE
 DATABASE  ESTABLISHED IN SUBDIVISION ONE OF THIS SECTION WHERE SUCH NAME
 AND/OR BUSINESS ADDRESS DISCLOSES PERSONAL OR IDENTIFYING INFORMATION OF
 SUCH BENEFICIAL OWNER, NO AMENDMENT TO SUCH INFORMATION  MITIGATES  SUCH
 A. 7820                             3
 
 DISCLOSURE,  AND  SUCH DISCLOSURE SERVES NO PUBLIC INTEREST. SIGNIFICANT
 PRIVACY INTERESTS SHALL INCLUDE, BUT NOT BE LIMITED TO, WHERE A  BENEFI-
 CIAL OWNER IS A NATURAL PERSON PARTICIPATING IN AN ADDRESS CONFIDENTIAL-
 ITY  PROGRAM,  OR IS A MEMBER OF A LIMITED LIABILITY COMPANY ACTING AS A
 RELATOR IN A QUI TAM ACTION FILED PURSUANT TO SECTION ONE HUNDRED NINETY
 OF THE STATE FINANCE LAW OR 31 U.S.C. SECTION  3729.  THE  SECRETARY  OF
 STATE  SHALL  ISSUE  A WAIVER TO A BENEFICIAL OWNER UPON A DEMONSTRATION
 THAT A SIGNIFICANT PRIVACY INTEREST EXISTS AND SHALL PROVIDE GUIDANCE ON
 ITS WEBSITE INDICATING WHAT DOCUMENTATION IS  ACCEPTABLE  AS  PROOF  FOR
 ISSUANCE  OF  A  WAIVER.  IF  THE SECRETARY OF STATE GRANTS A BENEFICIAL
 OWNER A WAIVER PURSUANT TO THIS  SUBDIVISION,  THE  SECRETARY  OF  STATE
 SHALL  DISCLOSE THE ANONYMIZED UNIQUE IDENTIFYING NUMBER ASSIGNED BY THE
 SECRETARY OF STATE TO  EACH  BENEFICIAL  OWNER  OR  OWNERS  PURSUANT  TO
 SECTION  TWO HUNDRED FIFTEEN OR SECTION EIGHT HUNDRED TEN OF THE LIMITED
 LIABILITY COMPANY LAW, AS MAY BE APPLICABLE TO THE DATABASE  ESTABLISHED
 IN  SUBDIVISION  ONE  OF THIS SECTION. THE SECRETARY OF STATE SHALL ALSO
 PROVIDE INFORMATION ON ITS WEBSITE REGARDING COMPLIANCE WITH  BENEFICIAL
 OWNERSHIP DISCLOSURE REQUIREMENTS AND HOW AND WHERE SUCH INFORMATION MAY
 BE USED AND DISCLOSED.
   §  4.  This act shall take effect on the three hundred sixty-fifth day
 after it shall have become a law; provided, however, that if chapter 102
 of the laws of 2024 shall not have taken effect on or before  such  date
 then sections one and two of this act shall take effect on the same date
 and  in  the  same  manner  as such chapter of of the laws of 2024 takes
 effect. Effective immediately, the addition, amendment and/or repeal  of
 any  rule  or regulation necessary for the implementation of this act on
 its effective date are authorized to be made and completed on or  before
 such effective date.