Relates to contracts between state agencies and not-for-profit organizations; repeals a provision of the state finance law relating thereto

Relates to provisions governing contracting between state agencies and not-for-profit organizations including new, renewal, and extension contracts and advance payments and interest for such contracts; repeals provisions relating to interest payments.

VETO MESSAGE - No. 94 TO THE SENATE: I am returning herewith, without my approval, the following bill: Senate Bill Number 7001, entitled: "AN ACT to amend the state finance law, in relation to contracting between state agencies and not-for-profit organizations; and to repeal subdivision 7 of section 179-v of such law relating there- to" NOT APPROVED This bill would overhaul the process by which not-for-profit organiza- tions contract with New York State. Among other things, the bill would: require advance payments on all contracts to not-for-profit entities; mandate quarterly advances and payment of interest on delayed contracts; set a minimum 15% indirect rate on all contracts; require state agencies to reimburse not-for-profits for interest accrued on lines of credit; and set timelines for contract modifications. The stated purpose of the bill is to allow for not-for-profit organizatio...