Bill Text: NY S03612 | 2019-2020 | General Assembly | Amended
Bill Title: Requires the MTA to submit an annual report on all minor and major contract cost overruns; 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 - Dead) 2020-01-08 - REFERRED TO TRANSPORTATION [S03612 Detail]
Download: New_York-2019-S03612-Amended.html
STATE OF NEW YORK ________________________________________________________________________ 3612--A 2019-2020 Regular Sessions IN SENATE February 11, 2019 ___________ Introduced by Sen. COMRIE -- read twice and ordered printed, and when printed to be committed to the Committee on Transportation -- commit- tee discharged, bill amended, ordered reprinted as amended and recom- mitted to said committee 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 EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD05697-02-9S. 3612--A 2 1 fifteenth of February of each calendar year and shall contain all 2 required information and all relevant contracts as required by this 3 section from the preceding calendar year. The first report shall be 4 submitted on the fifteenth of February after the effective date of this 5 section. 6 § 2. This act shall take effect immediately.