The bill proposes an extension of the contract with Paymentech LLC for merchant processing services, specifically for the remainder of Option Period Three, which will last from May 19, 2025, to May 18, 2026, with a total contract amount not to exceed $10,000,000. This contract is part of a larger agreement that includes a base period of three years and five additional two-year option periods. The funding for this contract has been certified as available within the Office of the Chief Financial Officer's annual operating budget. The bill also includes a legal sufficiency certification confirming that the contract has been reviewed and deemed legally sufficient, and it ensures that Paymentech LLC is compliant with District tax obligations.

Additionally, the bill amends existing subcontracting requirements under D.C. Code 2-218.46, allowing for waivers of the 35% subcontracting requirement when there is insufficient market capacity for the goods or services involved. The amendment specifies that waivers can only be granted if the lack of capacity prevents the contractor from meeting the subcontracting requirements at a project level, and agencies must submit requests to the Department of Small and Local Business Development (DSLBD) with supporting details. The bill also outlines the process for submitting waiver requests, emphasizing a 30-day advance submission requirement and stipulating that any changes to the solicitation will void the waiver decision. This aims to streamline the procurement process while ensuring compliance with updated regulations.