Require Contractors to Report Conflicts of Interest
Enacted on Jul 31, 2026Signed into law by the Mayor.
Signed into Law
Local Law 2026/055
✦ Plain-Language Summary
This law requires companies doing business with NYC on contracts over $100,000 to certify that no conflicts of interest, corruption, or misconduct exist within their organization. If a contractor discovers any wrongdoing during their contract, they must report it to city agencies within 10 business days. This helps protect taxpayer money by holding contractors accountable for ethical conduct.
Details
- Introduced
- Feb 28, 2024
- Passed Council
- Jan 29, 2026
- Enacted
- Jan 29, 2026
- Body
- Committee on Contracts
- Type
- Introduction
- Status
- Enacted
Official Description
This bill would require the City Chief Procurement Officer to establish standards and procedures for contractors to determine the existence of conflicts of interest and misconduct concerning city contracts valued over $100,000. Contractors would be required to self-certify compliance with these standards upon execution of a covered contract and attest that no conflicts of interest, corruption, criminal activity, gross mismanagement or abuse of authority exists with respect to their officers, employees and subcontractors. If a contractor becomes aware of any such conflicts or misconduct during the contract term, they would need to notify the Mayor's Office of Contract Services and the contracting agency in writing within 10 business days.