AB 1517 Summary

• Eliminates July 1, 2013 expiration dates for Department of General Services requirements on information technology contract withholding percentages, making them permanent
• Requires department to withhold at least 10% of contract price until final delivery, or reduced amounts (5% for contracts $10 million or more, 3% for contracts under $10 million) if risk evaluation justifies lesser withholding
• Removes requirement that contractors submit faithful performance bonds after July 1, 2013
• Requires Department of General Services to develop and maintain risk evaluation criteria for information technology acquisitions in consultation with Department of Finance
• Requires State Chief Information Officer to review contracts approved under this section and report recommendations to the Legislature