Bill > A08825

This bill amends the state finance law to require that all appropriations and grants disbursed by the state, state agencies, covered authorities, or the state legislature be paid through electronic transfer with dual verification. "Dual verification" means that the electronic payment process will involve two separate authentication or confirmation steps to enhance security and accuracy. The bill aims to increase the efficiency of financial transactions by mandating a standardized electronic payment method across state entities. The legislation will take effect one year after becoming law, which provides state agencies time to update their payment systems and procedures to comply with the new requirement. Additionally, the bill allows for the immediate development and implementation of any necessary rules or regulations to support the new electronic disbursement process.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A8825