Bill Text: NY A05585 | 2023-2024 | General Assembly | Introduced

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Bill Title: Requires the MTA to submit an annual report on all minor and major contract cost overruns; establishes such report shall include a list of all contracts where overruns exceed one million dollars, all contracting firms involved, the winning bid amounts, the actual costs incurred, a description of the project, completion delays, and an analysis of why the contract bid amount was exceeded.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-01-03 - referred to corporations, authorities and commissions [A05585 Detail]

Download: New_York-2023-A05585-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5585

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                     March 16, 2023
                                       ___________

        Introduced  by M. of A. GLICK -- read once and referred to the Committee
          on Corporations, Authorities and Commissions

        AN ACT to amend the public authorities law, in relation to requiring the
          metropolitan transportation authority to create an  annual  report  on
          all minor and major contract cost overruns

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. The public authorities law  is  amended  by  adding  a  new
     2  section 1269-h to read as follows:
     3    §  1269-h.  Report  on  contract cost overruns. 1. The authority shall
     4  create an annual report on all minor and major contract cost overruns.
     5    2. For the purposes of this section, "minor cost change" is defined as
     6  a change equal to or greater than ten percent but less than  twenty-five
     7  percent of the original project cost; "median cost change" is defined as
     8  a  change  equal  to  or  greater than twenty-five percent but less than
     9  fifty percent of the original project cost; and "major cost  change"  is
    10  defined  as  a  change  equal  to  or  greater than fifty percent of the
    11  original project cost.
    12    3. Such report shall include, but shall not be limited to: a  list  of
    13  all  contracts  with  minor cost changes, median cost changes, and major
    14  cost changes; all contracting firms  involved  in  such  contracts;  the
    15  winning  bid  amounts  of  such contracts; the original and actual costs
    16  incurred from  such  contracts,  and  the  difference  between  the  two
    17  numbers;  a description of the project; completion delays, if any; and a
    18  detailed analysis of why the contract bid amount was exceeded.
    19    4. Such report shall be in a form  prescribed  by  the  authority  and
    20  shall be accessible in electronic format.
    21    5. Each report shall be delivered to the governor, the temporary pres-
    22  ident  of  the  senate  and the speaker of the assembly on or before the
    23  fifteenth of February of  each  calendar  year  and  shall  contain  all
    24  required  information  and  all  relevant  contracts as required by this

         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02897-01-3
        A. 5585                             2

     1  section from the preceding calendar year.  The  first  report  shall  be
     2  submitted  on the fifteenth of February after the effective date of this
     3  section.
     4    § 2. This act shall take effect immediately.