NY A05137

Establishes a three-year electronic open auction public bond sale pilot program allowing municipalities (counties, cities, towns, villages, and school districts) to conduct open auction bond sales through nationally recognized electronic securities bidding services.

Permits municipal finance commissioners to accept electronic bids submitted through open auctions, where bidders can view the status and rank of their bids during the submission period and improve bids accordingly.

Requires municipalities' chief fiscal officers to administer the program, publish procurement policies on their websites and in bond market publications, and review auctions for timeliness and accuracy.

Mandates annual evaluations submitted to the state comptroller by February 1st assessing whether electronic open auctions are cost-comparable to closed auctions, increase bid participation, and achieve savings compared to previous processes.

Directs the state comptroller to compile municipal evaluation data annually and submit compiled information to the legislature and legislative leaders by April 1st; the program expires three years after enactment.