Earlier quoted context omitted.
The law does not prevent this.
The law opens any employer up to dozens of lawsuits if they hire people for less than what was advertised.
If it actually does do that, then spell out why that's the case (e.g. what's the penalty for hiring someone for a salary outside the posted range)?
The OP makes it sound like this is only to address certain information asymmetries in salary negotiation:
> Currently, New York City employers are allowed to withhold pay information until the end of the hiring process.
> Advocates of the bill argue that this forces applications into unequal negotiations throughout the hiring process without the critical piece of knowledge around salary.
> “Lack of salary transparency is discriminatory and anti-worker,” said Rosenthal. “Every New Yorker should have the right to determine whether they will be able to support themselves and their family when they apply for a job. It is time to level the playing field, and restore some dignity to New Yorkers seeking employment.”
> ...Job postings without salary range information can be reported to the city’s Commission on Human Rights.
Based on the article, I see no reason why someone would be prevented from consenting to pay below the position's current minimum, so long as they have full knowledge that is what they are in fact doing.