The proposed bill seeks to modify an existing contract with Paymentech LLC by increasing the Not-to-Exceed amount from $6,000,000.00 to $8,000,000.00, thereby adding an additional $2,000,000.00 in funding for the current performance period of Option Period Three. This increase will enable Paymentech to continue providing Merchant Processing Services for various District of Columbia agencies, covering both cardholder present and cardholder not present transactions. The contract, awarded through a competitive bidding process, has a strong foundation with Paymentech's extensive experience in the field and is financially supported by the Office of the Chief Financial Officer's annual operating budget.

In addition to the funding modification, the bill introduces new legal language to update the D.C. Code regarding subcontracting requirements for merchant processing services. It clarifies the waiver process for the 35% subcontracting requirement, stipulating that waivers can only be granted when there is insufficient market capacity for the required goods or services. Agencies must now provide evidence of available certified business enterprises and conduct market research before seeking a waiver. Furthermore, the bill mandates that waiver requests be submitted to the Department of Small and Local Business Development at least 30 days prior to the desired decision date, ensuring compliance with updated regulations while maintaining the integrity of the original contract terms.