New York A00995 amends the state finance law to establish a method for determining the lowest responsible bidder for state contracts, incorporating.

New York A00995 amends the state finance law by adding a new section that declares the policy of the state to assure the prudent and economical use of public moneys in contract negotiations. The bill mandates the comptroller to establish a method for determining the lowest responsible bidder for state contracts, considering quantifiable fiscal benefits. These benefits include the location of subcontractors, job creation, and estimated tax revenue and economic activity generated in the state. The bill also provides a preference for in-state contractors by reducing their bid by five percent.

New York A00995 amends the state finance law to establish a method for determining the lowest responsible bidder for state contracts, incorporating.

New York A00995 amends the state finance law by adding a new section that declares the policy of the state to assure the prudent and economical use of public moneys in contract negotiations. The bill mandates the comptroller to establish a method for determining the lowest responsible bidder for state contracts, considering quantifiable fiscal benefits. These benefits include the location of subcontractors, job creation, and estimated tax revenue and economic activity generated in the state. The bill also provides a preference for in-state contractors by reducing their bid by five percent.