Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 28, 2025 |
referred to procurement and contracts |
Senate Bill S5757
2025-2026 Legislative Session
Sponsored By
(D) 30th Senate District
Current Bill Status - In Senate Committee Procurement And Contracts 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
Actions
2025-S5757 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A5650
- Current Committee:
- Senate Procurement And Contracts
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §§179-e & 179-t, St Fin L
- Versions Introduced in 2023-2024 Legislative Session:
-
A9317
2025-S5757 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5757 SPONSOR: CLEARE TITLE OF BILL: An act to amend the state finance law, in relation to providing timely and up-front payments from the state to small not-for-profit corpo- rations and enabling the competitiveness of smaller not-for-profit corporations serving the state PURPOSE OR GENERAL IDEA OF BILL: This bill is designed to address the financial challenges faced by small not-for-profit corporations in the State of New York. Nonprofit organ- izations already bear a large financial hurdle, and the lack of timely payments from the State only exacerbates this issue. This legislation aims to bridge the gap between smaller not-for-profit corporations and larger, better-capitalized ones by altering the structure and schedule of payments from the state. SUMMARY OF PROVISIONS:
2025-S5757 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5757 2025-2026 Regular Sessions I N S E N A T E February 28, 2025 ___________ Introduced by Sen. CLEARE -- read twice and ordered printed, and when printed to be committed to the Committee on Procurement and Contracts AN ACT to amend the state finance law, in relation to providing timely and up-front payments from the state to small not-for-profit corpo- rations and enabling the competitiveness of smaller not-for-profit corporations serving the state THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Legislative findings. The Legislature acknowledges the New York Council of Nonprofits' first State of the Sector and finds that small not-for-profit corporations in the State of New York are struggl- ing to attract new talent, make timely payments, and cover their annual operating expenses, further exacerbated by financial difficulties stem- ming from the shifting post-pandemic economic landscape. Inflation and labor shortages have harmed the not-for-profit community in ways disproportionate to the for-profit community. In particular, these economic trends have harmed small not-for-profit corporations more acutely than larger not-for-profit corporations. The purpose of this legislation is to address that gap by altering the structure and schedule of payments from the state to small not-for-pro- fit corporations, helping them to better adapt their budgets and expend- itures and compete more effectively with larger, better-capitalized not-for-profit corporations who can more easily absorb large costs. Uncertain budgeting for not-for-profit corporations results in less action, unstable employment, less clarity with timelines, general stress and anguish for employees, and more. Helping small not-for-profit corpo- rations budget better will help the entire economy and society. § 2. Section 179-e of the state finance law is amended by adding a new subdivision 11 to read as follows: 11. "SMALL NOT-FOR-PROFIT CORPORATION" MEANS ANY NOT-FOR-PROFIT CORPO- RATION, AS DEFINED BY SECTION ONE HUNDRED TWO OF THE NOT-FOR-PROFIT EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09280-01-5
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