June 9, 2008

Doing Business with NYC Contribution Limits: Step-By-Step

On July 1, the NYC Campaign Finance Board is scheduled to meet and may certify the second phase of NYC’s “doing business” database (DBDB). If the expanded DBDB is certified at that meeting, additional categories of contributors will become subject to the "DB" contribution limits, effective 30 days later, on July 31. This post is the first of several reviewing the step-by-step implementation of the new DB limits. To review, effective February 2, 2008, the $400 (citywide office), $320 (borough president) and $250 (City Council) DB limits apply to top executives (CEOs, CFOs, and COOs, or equivalent) and persons with a greater than 10 percent ownership interest in firms holding contracts, franchises or concessions with the City of New York. The DB limits also apply to persons required to register as lobbyists with the New York City Clerk’s office. Contracts. The DB limits apply during the term of contract and 12 months thereafter. The following contracts do not trigger the DB limits: competitive sealed bid; emergency; goods or services below $100,000 in value, construction below $500,000 in value. Franchises and Concessions. The DB limits apply for one year from the commencement of the franchise or its renewal. For concessions, coverage runs for the term of the concession, plus 12 months. Franchises and concessions with an estimated annual value below $100,000 and concessions awarded through competitive sealed bid do not trigger the DB limits. Next up: senior managers, proposals, grants, economic development agreements, and pension fund investments.

Tag: New York City