New York A01661 requires the Metropolitan Transportation Authority (MTA) to submit an annual report on all minor and major contract cost overruns.

New York A01661 amends the public authorities law to mandate the MTA to create an annual report on all minor and major contract cost overruns. The report must include a list of contracts where overruns exceed one million dollars, all contracting firms involved, the winning bid amounts, the actual costs incurred, a description of the project, completion delays, and an analysis of why the contract bid amount was exceeded. Definitions for "minor cost change," "median cost change," and "major cost change" are provided.

New York A01661 requires the Metropolitan Transportation Authority (MTA) to submit an annual report on all minor and major contract cost overruns.

New York A01661 amends the public authorities law to mandate the MTA to create an annual report on all minor and major contract cost overruns. The report must include a list of contracts where overruns exceed one million dollars, all contracting firms involved, the winning bid amounts, the actual costs incurred, a description of the project, completion delays, and an analysis of why the contract bid amount was exceeded. Definitions for "minor cost change," "median cost change," and "major cost change" are provided.