NY A10741

Expands the definition of "renewal contract" to include new contracts between state agencies and nonprofits providing the same or similar services as a previously approved contract, streamlining the approval process

Requires all written directives authorizing nonprofits to begin work before contract execution to include invoice submission schedules, payment dates, and instructions for accessing the short-term revolving loan fund

Increases the maximum loan amount from the not-for-profit short-term revolving loan fund from one-half of the first quarter payment to the full contract payment amount

Mandates that the not-for-profit contracting advisory committee meet quarterly and report annually to the comptroller, attorney general, governor, and legislature, with reports posted publicly on the NY State Nonprofit Unit website

Clarifies that only "material defects" in invoices can pause payment timelines, and establishes that scrivener's errors or rounding errors under $100 do not constitute material defects