BILL NUMBER: S9386
SPONSOR: PALUMBO
 
TITLE OF BILL:
An act to amend the state finance law, in relation to requiring audits
by the comptroller in the event of arrest or conviction of contractors
 
PURPOSE:
Requires audits by the comptroller in the event of arrest or conviction
of contractors.
 
SUMMARY OF PROVISIONS:
Section 1. The state finance law is amended by adding a new section 149
which defines contractor. The comptroller is required upon conviction
or any determination against a contractor for certain violations to
conduct an audit of all existing public works projects commenced by such
contractor that have received state funds.
Section 2. Sets forth effective date.
 
JUSTIFICATION:
In the event of arrest or conviction of contractors, this bill will
require an audit by the State comptroller to determine fraudulent busi-
ness practices of said contractors to include, but not limited to,
taxpayer funding public projects, workers' compensation, insurance
fraud, not paying prevailing wages, guaranteed benefits and paying work-
ers off the books. This audit will ensure that hard working taxpayers
are not being defrauded, ensure that companies abide by legal standards
and provide a culture of transparency.
 
LEGISLATIVE HISTORY:
New bill
 
FISCAL IMPLICATIONS:
None
 
EFFECTIVE DATE:
Immediately
 
EFFECTIVE DATE:
This act shall take effect immediately.