Reporting of promptness of agency payments to contractors.

A Local Law to amend the New York city charter and the administrative code of the city of New York, in relation to reporting of promptness of agency payments to contractors

This bill would require the Procurement Policy Board to create a process for city agencies to inform vendors of the reason for any late payments. It would also require City agencies to provide the Mayor’s Office of Contract Services with reports on any such late payment. The Mayor’s Office of Contract Services would then provide a report to the Mayor and Council every 6 months with information about the late payments from all City agencies.