Prohibits public agencies to accept a bid or proposal for a public contract from a nonprofit for which the highest paid employee has total compensation that is more than 50 times that of its lowest-paid employee; applies to certain nonprofit corporations that receive at least 20% of total revenues from public resources, have annual revenues of $10 million or more, and employ at least 5 full-time staff; defines "total compensation" as the salary, wages, commissions, benefits, bonuses, and any other remuneration paid to an employee; requires contracting agencies to disclose the prohibition in solicitations and advertisements; requires the 50:1 salary ratio ceiling to be included in all public contracts; provides for termination or debarment for nonprofits that violate this salary ceiling; requires nonprofit contractors to declare and substantiate their compliance in any bid or proposal, and periodically certify and substantiate their compliance during the contract period; takes effect 1/1/26.