FL S1188

Requires procurement agreements for contractual services exceeding the CATEGORY TWO threshold to include a mandatory limitation of liability provision for breach of contract.

Limits contractor's direct damages liability to the greater of $100,000, the contract dollar amount, or two times the charges rendered under the contract.

Exempts claims arising from indemnity sections or insurance provisions relating to Professional Services from the liability cap, unless parties agree otherwise.

Prohibits liability for special, indirect, punitive, or consequential damages including lost data, lost profits, lost revenue, and lost institutional operating savings.

Allows the State to retain monies from amounts due to the contractor and set off any contractor liabilities against state payments; effective July 1, 2023.