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Local law · Int 1046-2026

Interest to be paid on late contract payments to non-profit contractors

New York City Council

Latest action Sep 10, 2026

Sponsor: Linda Lee (Council Member, District 23, Democratic)

Official titleShow

A Local Law to amend the administrative code of the city of New York, in relation to interest to be paid on late contract payments to non-profit contractors

The heading above is this same sentence with its legal opening removed. No words were added, changed or reordered.

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From the NYC Council's legislative record (Legistar) and official rosters. This record was last updated Oct 1, 2026. About our data

Summary

This bill would require city agencies to pay interest on late payments for contracts with non-profit organizations. A non-profit contractor would not be eligible to receive interest if it has received a no-interest and no-service-fee loan issued or authorized by a city agency to cover its expenses under the subject contract. The City Chief Procurement Officer would be required to submit an annual report to the Mayor and Speaker detailing interest payments made to non-profit contractors.

Summary from NYC Council (Legistar). How we handle summaries

Where it stands

Assigned to a committee for review.

  1. Introduced
  2. In committee
  3. Up for a vote
  4. Passed one chamber
  5. Passed
  6. Enacted

Committee

Committee on Contracts

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Cosponsors

27

Cosponsors in the order the New York City Council lists them.

  • Democratic24
  • Republican3

This bill has cosponsors from more than one party.

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Show the full list (27 names)

Full history

  1. Sep 10, 2026

    Introduced

    This Introduction was Introduced by Council

    NYC Council

  2. Sep 10, 2026

    Referred to committee

    This Introduction was Referred to Comm by Council to the Committee on Contracts

    NYC Council

Read the record