NY A00995

Requires the state comptroller to establish a method for determining the "lowest responsible bidder" on state contracts that factors in quantifiable fiscal benefits beyond just the monetary bid amount

Mandates consideration of subcontractor locations, job creation within New York, estimated tax revenue, and ancillary economic activity when evaluating bids

Creates a 5% bid reduction preference for "in-state contractors" when calculating the low bid on state contracts

Defines in-state contractors as those located in New York, employing a majority of state residents, using in-state subcontractors with resident employees, and generating state tax revenue and economic activity

Declares state policy to ensure prudent use of public funds while obtaining maximum quality facilities and commodities at the lowest possible cost