Requires audits by the comptroller in the event of arrest or conviction of contractors

This bill requires New York's state comptroller to conduct financial audits of all public works projects funded by the state when a contractor is convicted or found liable for specific theft or fraud violations. It directly affects contractors (including subcontractors and affiliated entities) working on state-funded projects who are convicted under certain laws related to wage theft, insurance fraud, or labor law violations. The comptroller must audit all such projects the contractor managed after a conviction for offenses listed in the insurance law, penal law (wage theft, fraud), workers' compensation law, or labor law. The law takes immediate effect and aims to ensure public funds are properly accounted for when contractors face legal consequences for financial misconduct.