The proposed bill seeks to modify the 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 is necessary to accommodate a rise in transaction volume for Merchant Processing Services provided to various agencies within the District of Columbia. The contract, which has a base period of three years and five two-year option periods, was awarded to Paymentech through a competitive bidding process, recognizing their extensive experience and strong performance over nearly a decade of collaboration with the District.

In addition to the funding increase, the bill amends the waiver process for subcontracting requirements under D.C. Code 2-218.46, specifically for the Office of the Chief Financial Officer. It stipulates that waivers can only be granted when there is insufficient market capacity for the required goods or services, and mandates that agencies submit waiver requests to the Department of Small and Local Business Development (DSLBD) at least 30 days prior to the desired decision date. The bill also clarifies that any changes to the solicitation will void the waiver decision, ensuring compliance with updated regulations while maintaining opportunities for local businesses. Overall, the bill aims to streamline the contract modification process and enhance the legal framework governing these services.