NY State Fin L § 166 (2021)
2021 New York Laws STF - State Finance Article 11 - State Purchasing 166 - Requirements for Financed Equipment Acquisition or Financed Creation or Improvement of Information Technology Systems and Related Research and Develop

§  166.  Requirements  for  financed equipment acquisition or financed   creation or improvement of information technology  systems  and  related   research and development. 1. a. No financed equipment acquisition may be   approved  by  the  state  comptroller  unless  the  acquisition has been   approved by the director of the budget and the outright purchase cost of   the equipment is at  least  fifty  thousand  dollars  for  new  financed   equipment   acquisitions   during   the  fiscal  year  nineteen  hundred   eighty-eight--eighty-nine, and at least one hundred thousand dollars for   new financed  acquisitions  during  subsequent  fiscal  years  provided,   however,  that the comptroller may issue regulations establishing higher   minimum outright purchase costs. Multiple items  of  the  same  type  of   equipment  or  related  items of equipment procured pursuant to a single   request for proposals may be grouped under one or several  contracts  as   part  of  a  procurement  package  to  reach the applicable minimum. The   financing of the  creation  or  improvement  of  information  technology   systems  and  related research and development is authorized pursuant to   this section.b. Notwithstanding the provisions of paragraph a of this  subdivision,   which  shall  not  apply to financed equipment acquisitions for units of   the state university and  city  university  of  New  York,  no  financed   equipment  acquisition may be approved by the state comptroller for such   units until the director of  the  budget  has  determined  whether  such   financed  equipment  acquisition  shall  be  financed by certificates of   participation pursuant to  section  sixty-six-b  of  this  chapter.  The   director  of  the  budget  shall  make  such determination no later than   thirty days following the submission of documentation,  satisfactory  to   the  director  from the state university or city university of New York.   If within such period of time the director does not indicate  that  such   financed  equipment  acquisition  shall  be  financed by certificates of   participation, the state university or city university of New  York  may   proceed  with  a  financed  equipment acquisition in accordance with any   other applicable provision of law. The board of  trustees  of  the  city   university of New York and the board of trustees of the state university   of  New  York shall each promulgate regulations in consultation with the   comptroller and subject to the approval of the director  of  the  budget   regarding   the  circumstances  under  which  units  of  the  respective   universities may use certificates of  participation  or  other  financed   equipment  acquisitions.  Such  regulations  shall  include  but  not be   limited to: the  establishment  of  minimum  finance  acquisition  cost;   restrictions  on  the  use  of certificates of participation; and annual   ceilings on financed  equipment  acquisitions.  Each  board  shall  file   copies  of  its  regulations  with  the  director  of  the  budget,  the   comptroller, and the chairs of the  senate  finance  committee  and  the   assembly ways and means committee.2.  The director of the budget shall transmit to the state comptroller   and the chairs of the senate finance committee  and  assembly  ways  and   means   committee   a   quarterly   report  on  new  financed  equipment   acquisitions approved by the director of the budget during the  previous   quarter. The report shall identify the following:a. The agency and program procuring the equipment.b. A brief description of the equipment.c. The cost of the equipment if purchased outright.d. The interest rates and terms of such financing.e.  The  total lease purchase or installment purchase payments for the   equipment.f. The lease purchase or installment purchase payments by fiscal  year   for the current fiscal year and the next five fiscal years. g.  The  anticipated  source  of  funds  to  make  lease  purchase  or   installment purchase payments.