HB3020 S GOV AM #2 3-6

Gaskins  4483


The Committee on Government Organization moved to amend the bill on page one, section three, lines ten through seventeen, by striking out all of subsection (b) and inserting in lieu thereof the following:

(b) When a governing board, the commission, or the council determines that a contract for financial services is necessary and proper, it may enter into such a contract with an affiliated nonprofit corporation under such financial terms as the governing board, commission, or council determines are reasonable and proper in the sound administration of their financial responsibilities to the state. In so doing, the affiliated nonprofit corporation shall be deemed a sole source in respect to any applicable law or regulation relating to expenditures of public funds.