|AN ACT CONCERNING STATE CONTRACT REDUCTIONS. |
3 of document(s) retrieved
February Session, 2010
AN ACT CONCERNING STATE CONTRACT REDUCTIONS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective from passage) For any contract entered into between a state agency and a private service provider after January 1, 2011, when the state agency reduces the funding amount under the contract by five per cent or more during any fiscal year, the private service provider may adjust its budget expenditures in an amount equal to the funding reduction without the agency's approval. The private service provider shall notify the state agency of the provider's budget adjustment.
This act shall take effect as follows and shall amend the following sections:
Joint Favorable Subst.