Int 1292-2016

Be it enacted by the Council as follows: Section 1. Section 332 of the New York city charter, as amended by local law 20 for the year 2004, is amended to read as follows: � 332. Payments procedure. a. Electronic voucher processing. All city agencies and departments shall, to the extent practicable and consistent with operational and fiscal needs, develop and implement programs to accept vouchers by electronic means. b. The procurement policy board shall promulgate rules for the expeditious processing of payment vouchers by city agencies and departments including (i) the maximum amount of time allowed for the processing and payment of such vouchers from the later of (a) the date such vouchers are received by the agency, or (b) the date on which the goods, services or construction to which the voucher relates have been received and accepted by the agency, (ii) a program for the payment of interest, at a uniform rate, to vendors on vouchers not paid within the maximum amount of time pursuant to clause i of this subdivision, (iii) a process for the allocation and charging of any such interest payments to the budget of the agency responsible for the delay leading to the interest payments and (iv) agency reporting on the promptness of such payments in such form and containing such information as the board shall prescribe. The board shall coordinate and publish such agency prompt payment reports. Such rules shall facilitate the development and implementation of programs pursuant to subdivision a of this section. � 2. This local law takes effect 60 days after it becomes law, except that city agencies and departments may take such measures as are necessary for the implementation of this local law, including the promulgation of rules, before such date. PLS/ARP LS #8043 9/14/17 2