Bill > A07820

This bill establishes a publicly available database managed by the New York Secretary of State that will include detailed information about business entities, particularly those entering into procurement contracts with state entities. The database will contain comprehensive details such as the business entity's name, address, county, filing history, date of organization, and most recent filing. Importantly, for limited liability companies (LLCs), the database will also include the full legal names of beneficial owners, though a privacy waiver process will be available for individuals with significant privacy concerns, such as those in address confidentiality programs or involved in qui tam legal actions. A "procurement contract" is broadly defined to include any contract over $50,000, real property transactions with the state, and office space acquisitions, while "procuring entities" are defined as various state agencies, departments, and governmental bodies. The bill also modifies existing confidentiality provisions to allow disclosure of beneficial ownership information for businesses entering procurement contracts, effectively creating more transparency in state business interactions. The database is intended to provide a centralized, accessible resource for understanding the ownership and basic details of businesses working with New York state government.

Government Affairs

https://www.nysenate.gov/legislation/bills/2025/A7820