Bill > S06354

This bill amends the administrative code of New York City to prohibit city agencies from entering into contracts with limited liability companies (LLCs) unless the LLC first discloses the names and addresses of individuals who have limited liability for the company's contractual obligations and other liabilities. Limited liability means that these individuals are protected from personal financial responsibility for the company's debts or legal issues. The bill specifically applies to cities with a population of one million or more, which in practice means New York City, and covers contracts for purchasing goods, services, or construction. The disclosure requirement is designed to increase transparency about the ownership and potential financial responsibilities of LLCs doing business with the city. The legislation will go into effect 90 days after it is signed into law, giving LLCs time to prepare the required disclosures before engaging in city contracts.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/S6354