Senate Bill 1952 (2022) — Evidence of vendor financial stability

SB 1952

Florida Bills

Florida Senate - 2022 SB By Senator Albritton 26-01713-22 20221952__ CODING: Words stricken are deletions; words underlined are additions. A bill to be entitled

An act relating to evidence of vendor financial stability; amending s. 287.057, F.S.; providing that an agency that requires a vendor to demonstrate financial stability during a competitive solicitation process must accept certain evidence; providing an effective date. 7

Be It Enacted by the Legislature of the State of Florida: 9

Section 1. Subsection (27) is added to

section 287.057, 11 Florida Statutes, to read: 12 287.057 Procurement of commodities or contractual services.— 14

(27) An agency that requires a vendor to demonstrate financial stability during the competitive solicitation process must accept any of the following as evidence of such stability: 17

(

a) Audited financial statements that demonstrate the vendor’s satisfaction of generally accepted financial stability criteria. 20

(

b) Documentation of an investment-grade rating from a credit rating agency designated as a nationally recognized statistical rating organization by the Securities and Exchange Commission. 24

(

c) For a vendor with annual revenues exceeding $1 billion, 25 a letter issued by the chief financial officer or controller verifying such vendor’s satisfaction of generally accepted financial stability criteria. 28

Section 2. This act shall take effect July 1, 2022. 29

Document details

Collection	Florida Bills
Citation	SB 1952
Type	bill
Language	en
Format	pdf
Source	FL_SENATE
Identifier	17e4bc2ea7c008edeb69a2bac8362fe2d8f6ba34

Source file is stored in the law ingest library (pdf).