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NY S07993
Bill
Status
6/2/2016
Primary Sponsor
Jack Martins
Click for details
AI Summary
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Amends the definition of "small business" under state finance law to measure employee count at the time of payment rather than at the time of contract award.
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Removes the requirement for small businesses to be characterized with quotation marks in the legal definition.
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Changes the effective date of Chapter 568 of the 2015 laws (requiring state agencies to pay small businesses within 15 days of invoice receipt) from 365 days after enactment to March 31, 2017.
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Applies the 15-day payment requirement only to invoices received on or after the March 31, 2017 effective date.
Legislative Description
Relates to the definition of small business; extends effectiveness relating to requiring state agencies to pay small businesses within fifteen days of receipt of an invoice.
Last Action
SUBSTITUTED BY A10553
6/16/2016