A 2741: 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.

  
  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.