KY HB892

Small purchase threshold for most state governmental bodies increases from $10,000 to $50,000 per construction project and from $1,000 to $7,500 for general purchases

Small purchase threshold for the Finance and Administration Cabinet, state higher education institutions, and the legislative branch remains at $100,000 per project for construction or purchases

Secretary of Finance and Administration Cabinet is now required (changed from optional) to review prevailing labor and material costs at least every two years and make recommendations to the General Assembly for threshold revisions

Prohibition remains on artificially dividing procurement requirements to qualify as small purchases, and reverse auctions may continue to be used for small purchase procurements

Secretary retains authority to grant delegations of small purchasing authority exceeding standard limits to agencies with justifiable need, based on compliance history, staff training, and use of Kentucky Automated Purchasing System