New York A 2741: Relates to review of certain contracts of a limited-profit housing company

Bill Text

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A02741 Summary:

BILL NOA02741 

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SAME ASNo Same As

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SPONSORRosenthal

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COSPNSR

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MLTSPNSR

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Amd §32-a, Priv Hous Fin L

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Requires the commissioner of housing and community renewal, or the appropriate supervising agency, to review contracts for $50,000 or more entered into by a limited-profit housing company.

Go to top A02741 Actions:

BILL NOA02741 

&nbsp

01/22/2025referred to housing

01/07/2026referred to housing

Go to topA02741 Committee&nbspVotes:

Go to topA02741 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA02741 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 2741

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 22, 2025
 ___________

 Introduced by M. of A. ROSENTHAL -- read once and referred to the
 Committee on Housing

 AN ACT to amend the private housing finance law, in relation to review
 of certain contracts of limited-profit housing companies

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

 1 Section 1. Section 32-a of the private housing finance law is amended
 2 by adding two new subdivisions 15 and 16 to read as follows:
 3 15. Review any bids for a contract to be entered into by a limited-
 4 profit housing company for an amount over fifty thousand dollars.
 5 (a) Bids shall be reviewed in a manner so as to assure the prudent and
 6 economical use of moneys and in the best interest of shareholders, to
 7 facilitate the acquisition of materials, supplies and services of maxi-
 8 mum quality at the lowest possible cost under the circumstances and to
 9 guard against favoritism, improvidence, extravagance, fraud and
 10 corruption. To further such objectives, an authority shall adopt inter-
 11 nal policies and procedures governing all procurements of materials,
 12 supplies and services over fifty thousand dollars.
 13 (b) Such policies and procedures shall contain provisions which, at
 14 minimum:
 15 (i) prescribe a procedure for determining whether a procurement of
 16 materials, supplies, and services is subject to a sealed bid and docu-
 17 menting the basis for any determination that a sealed bid is not
 18 required by law;
 19 (ii) set forth when each such method of procurement will be utilized,
 20 taking into account which method will best further the purposes of this
 21 subdivision and the cost-effectiveness of the method;
 22 (iii) require adequate documentation of actions taken in connection
 23 with each such method of procurement; and
 24 (iv) identify the respective titles of persons responsible for
 25 purchasing. Such information shall be updated biennially.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00952-01-5

 A. 2741 2

 1 16. The division of housing and community renewal and the New York
 2 city department of housing preservation and development shall collab-
 3 orate to develop a procurement and bid corruption prevention training
 4 program. Such procurement corruption prevention training program shall
 5 be interactive, given to board members of Mitchell-Lama developments as
 6 a part of their required training and include:
 7 (i) information concerning the federal, state, and local statues and
 8 regulations related to gratuities and bribes;
 9 (ii) information concerning criminal liabilities related to gratuities
 10 and bribes;
 11 (iii) examples of conduct that would constitute gratuities and bribes;
 12 and
 13 (iv) examples of favoritism, improvidence, extravagance, fraud and
 14 corruption that may undermine the bidding process.
 15 § 2. This act shall take effect on the ninetieth day after it shall
 16 have become a law.

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