Bill > A05090

This bill aims to prevent potential conflicts of interest and increase transparency by prohibiting certain public officials, including statewide elected officials, state employees, legislators, and political party chairs, from receiving compensation for legal services, consulting, or other work from state or local authorities under specific circumstances. The legislation establishes that these officials cannot receive compensation if they are directly contracted by an authority, own or control at least 10% of stock in a corporation contracted by an authority, or own or control at least 10% of capital, profits, or beneficial interest in a firm or association contracted by an authority. Additionally, the bill introduces a new disclosure requirement mandating that any individual or entity providing consulting services to an applicant seeking financial assistance from an agency must submit a detailed disclosure statement to the agency and the Authorities Budget Office within 30 days of service commencement. These disclosure statements must include information such as the service provider's name, nature of services, dates of engagement, total compensation, and contract details. The statements will be made publicly available online, and failure to file can result in disqualification from future agency projects for up to two years. The legislation applies to contracts entered into on or after its effective date and is designed to enhance accountability and prevent potential conflicts of interest in government and quasi-governmental agencies.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A5090