Kentucky HB892 revises state procurement rules, setting limits on small purchase amounts and allowing reverse auctions.

Kentucky HB892 amends state procurement regulations, setting a maximum of $50,000 per project for small purchases by state bodies, except for specific entities which can purchase up to $100,000. It prohibits artificially dividing procurements to qualify as small purchases and allows reverse auctions for such procurements. The secretary of the Finance and Administration Cabinet must review labor and material costs every two years and recommend changes to the small purchase limits.

Kentucky HB892 revises state procurement rules, setting limits on small purchase amounts and allowing reverse auctions.

Kentucky HB892 amends state procurement regulations, setting a maximum of $50,000 per project for small purchases by state bodies, except for specific entities which can purchase up to $100,000. It prohibits artificially dividing procurements to qualify as small purchases and allows reverse auctions for such procurements. The secretary of the Finance and Administration Cabinet must review labor and material costs every two years and recommend changes to the small purchase limits.