Bill Summary: A00059 - Competitive Procurement Act

• Requires state agencies, public authorities, and municipalities to consider "net economic impact" as a priority criterion when awarding procurement contracts for public works and purchases, alongside lowest responsible bid and best value considerations.

• Defines net economic impact to include direct, indirect, and induced economic impacts on New York State's economy, measured by job creation, tax revenue, location of subcontractors, and ancillary economic activity within the state.

• Mandates that contracting entities require prospective contractors to submit economic impact statements detailing how contract award would benefit New York's economy and document the basis for award decisions in writing.

• Authorizes the Comptroller and Commissioner of Economic Development to establish rules and regulations for structuring procurement requests and evaluating net economic impact, with procedures for challenging bid awards within ten days.

• Applies to all contracts entered into on or after April 1, 2011, with exemptions for contracts funded by federal government (if federal compliance would be jeopardized) and negotiated reciprocity agreements for goods or services.