New York A07616 amends state finance law to revise provisions governing contracting between state agencies and not-for-profit organizations.

New York A07616 amends state finance law to revise provisions governing contracting between state agencies and not-for-profit organizations. It modifies the definition of "renewal contract" to include new contracts providing the same or similar services. The bill requires state agencies to provide written directives to not-for-profit organizations, including schedules for invoice submission and payment. It mandates advance payments of 25% of the total award for new, renewal, or extension contracts, with recoupment in the final quarter.

New York A07616 amends state finance law to revise provisions governing contracting between state agencies and not-for-profit organizations.

New York A07616 amends state finance law to revise provisions governing contracting between state agencies and not-for-profit organizations. It modifies the definition of "renewal contract" to include new contracts providing the same or similar services. The bill requires state agencies to provide written directives to not-for-profit organizations, including schedules for invoice submission and payment. It mandates advance payments of 25% of the total award for new, renewal, or extension contracts, with recoupment in the final quarter.