Int 1067-2018

Be it enacted by the Council as follows: Section 1. Subdivision b of section 332 of the New York City Charter, as amended by local law number 192 for the year 2017, is amended to read as follows: 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) a process for the agency to inform vendors of the reason for the lack of prompt payment on vouchers not paid within the maximum amount of time pursuant to clause i of this subdivision and (v) 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. Section 6-131 of the administrative code of the city of New York is amended by adding a new subdivision a-1 to read as follows: a-1. All agencies shall provide to the Mayor's Office of Contract Services reports on any payments made after the maximum amount of time allowed for the processing and payment of such vouchers pursuant to rules promulgated by the Procurement Policy Board. Beginning January 1, 2019, and every six months thereafter, the Mayor's Office of Contract Services shall submit a report to the mayor and speaker of the council that includes, at a minimum, the information reported by each agency pursuant to this subdivision and a summary of such information. � 3. This local law shall take effect immediately upon enactment. TJ/ARP LS # 5991-7195 7/26/18 Page 2 of 2