Bill > SB2331

This bill clarifies which procurement contracts, meaning agreements for goods or services, are subject to review by the fiscal review committee, a legislative body that examines the financial impact of proposed actions. Specifically, it outlines that noncompetitive contracts, which are those awarded without a formal bidding process, with a value of $250,000 or more, and any amendments to contracts that meet or would meet this threshold, will require review. The bill also removes the requirement for fiscal notes, which are documents explaining the financial impact of legislation, to include statements about the impact on commerce.