DGS E-Procurement Systems (language only)

Item 76 #1c

Language
Page 53, line 11, before "The" insert "A."
Page 53, after line 19, insert:
"B. The Department of Accounts shall provide a treasury loan of up to $3,000,000 to the Department of General Services to pay for the costs of developing and implementing a statewide electronic procurement system that has been approved by the Secretary of Technology or his designee. Such loan shall bear interest at a rate equal to the general fund composite investment rate and shall be repaid in annual installments over a period of five years beginning two years after the start of project implementation in fiscal year 2002. Repayments of this loan will be financed by fees assessed to state agencies and institutions of higher education using the electronic
procurement system. Prior to requesting a treasury loan, the Department of General Services shall explore other financing strategies during development of this project and, in consultation with the Department of Planning and Budget, shall select the most viable option for developing and implementing the project. The General Assembly strongly encourages all state agencies and institutions of higher education to participate in the statewide electronic procurement system authorized in this item."

Explanation
(This amendment continues language in House Bill 29 allowing for a Treasury loan of of up to $3.0 million to DGS to cover the costs of a statewide electronic procurement sytstem.)