§ 179-bb. Reports. 1. Each state agency contracting with not-for-profit organizations shall annually prepare and transmit a report to the office of the state comptroller by March thirty-first of each year. Such report, which shall be made available to the public by the office of the state comptroller, shall include, but not be limited to, information regarding the number of programs affected by this article, the ability of the state agency to meet the time frames described within this article, the number of programs, contracts, renewal contracts both complying and failing to comply with the time frames set forth in this article and the amount of interest paid. The office of the state comptroller shall prepare an annual report examining the effectiveness and implementation of prompt contracting and payment as required by this article. In addition to examining the effectiveness and implementation of this article, the office of the state comptroller shall make any recommendations they deem necessary to improve existing contracting and payment methods between state agencies and not-for-profit organizations. The office of the state comptroller shall transmit such report by May thirty-first of each year to the governor, the temporary president and minority leader of the senate, the speaker and the minority leader of the assembly, the director of the division of the budget, the chairman of the senate finance committee and the chairman of the assembly ways and means committee.

2. The office of the state comptroller shall, not later than one year after the date on which the act enacting this article shall have become a law, report to the governor, the temporary president and minority leader of the senate, the speaker and minority leader of the assembly, the director of the division of the budget, the chairman of the senate finance committee and the chairman of the assembly ways and means committee on the impact of the not-for-profit short-term revolving loan fund in avoiding negative impacts on working capital or cash flow problems experienced by not-for-profit organizations when entering into contracts with state agencies. In examining the impact of the loan fund on not-for-profit organizations providing services on behalf of state agencies, the comptroller shall make any recommendation deemed necessary, including, but not limited to, whether: prompt contracting and payment by state agencies has reduced the financial strain on not-for-profit organizations; the amount of money in the loan fund should be increased; the maximum loan a not-for-profit organization may receive from the loan fund should be increased; not-for-profit organizations providing services pursuant to contracts with public benefit corporations should be able to access the loan fund; and, any additional legislation is necessary to further improve the loan fund. Such report shall also include information regarding the number of loans made by the fund, the amount of each loan and any other pertinent information pertaining to the operation of the loan fund.

3. The office of the state comptroller and the office of management and productivity shall jointly prepare a report examining the issue of prompt contracting for seasonal programs and shall make recommendations for action which will assure expeditious contracting and payment to ensure stability of funding and provision of service. Such report shall be delivered to the governor, the temporary president and minority leader of the senate, the speaker and minority leader of the assembly, the director of the division of the budget, the chairman of the senate finance committee and the chairman of the assembly ways and means committee not later than thirty days after the date on which the act enacting this article shall have become a law.