NY A01386

Establishes a 3-year pilot program allowing counties, cities, towns, villages, and school districts to sell public bonds through electronic open auctions using nationally recognized electronic securities bidding services

Permits bidders in open auctions to view the status or rank of competing bids during the submission period and improve their offers accordingly, unlike traditional closed auctions where bid information remains hidden

Requires municipal chief fiscal officers to administer the program, publish procurement policies on the municipality's website and in bond market publications, and review each auction to ensure timely, error-free completion

Mandates annual evaluations submitted to the State Comptroller by February 1st, comparing open auction results to closed auctions in terms of costs, number of bids received, and savings achieved

Requires the State Comptroller to compile municipal evaluation data and submit a report to legislative leaders by April 1st each year