§ 24-17-201. Short Title
This part 2 shall be known and may be cited as the “State Contingency-Based Contracts Act”. Source: L. 2004: Entire part added, p. 1124, § 1, effective May 27.
§ 24-17-202. Legislative Declaration
The general assembly hereby finds and declares that: Under certain circumstances, contingency-based contracts can benefit the state by reducing state agencies’ fixed contractual costs and linking state agency expenditures to the achievement of desired results, but contingency-based contracts can also have unintended adverse consequences that impact state finances in ways that a contracting state agency […]
§ 24-17-203. Definitions
As used in this part 2, unless the context otherwise requires: “Contingency-based contract” means a contract entered into by a state agency and a vendor for services that: Requires all or part of the vendor’s compensation to be computed by multiplying a stated percentage times the amount of measurable savings in the state agency’s expenditures […]
§ 24-17-204. Review of Contingency-Based Contracts by Office of State Planning and Budgeting
No contingency-based contract shall be deemed valid unless the head of the principal department of state government entering into the contract or containing the agency entering into the contract submits the contract and an analysis of the contract to the office as required by paragraph (b) of subsection (2) of this section and the office […]
§ 24-17-205. Existing Legal Requirements Not Superseded
The provisions of this part 2 shall not be construed to repeal, supersede, or otherwise affect any other statutory provisions that limit the use of or require review or approval of contingency-based contracts. Nothing in this part 2 shall be construed to authorize or prohibit a state agency from entering into a contingency-based contract in […]