The bill proposes an extension of the contract for merchant processing services with Paymentech LLC, covering the period from May 19, 2025, to May 18, 2026, with a total contract amount not to exceed $10,000,000. This contract is structured as a requirements contract, allowing the District to procure services as needed, with funding allocated from 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 is compliant with D.C. law, ensuring that Paymentech LLC is current with its District taxes and that the contract aligns with the financial plan.

Additionally, the bill amends the 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 waiver requests must be submitted to the Department of Small and Local Business Development (DSLBD) at least 30 days in advance and outlines the necessary documentation. Key changes also include the deletion of previous Option Year Three terms, which are replaced to reflect an increase in projected merchant transactions and fees, raising the not-to-exceed total for this option period to $18,000,000. The cumulative value of the contract is increased from $44,750,000 to $54,750,000, while all other terms remain unchanged.