HB 20-1116 Summary

• Allows the office to renew contracts with qualified entities providing procurement technical assistance on or before September 15, 2020, with renewed contracts lasting up to five years instead of the original six-year term.

• Permits the General Assembly to provide more than $200,000 annually if the qualified entity provides a 100% matching contribution, enabling increased state investment beyond the standard cap.

• Reduces state funding to $175,000 from the general fund for fiscal years 2020-21 and 2021-22, with the office providing an additional $25,000 from existing resources to maintain the $200,000 total contribution.

• Extends the state treasurer's annual transfer of $220,000 from the general fund to the procurement technical assistance cash fund for nine years total (through 2024) instead of four years.

• Exempts renewed contracts from the requirement that qualified entities project $600,000 cumulative state investment by the third contract year, allowing different performance standards for contract renewals.