Amends TCA Title 12, Chapter 3, Part 6.
As enacted, changes, from three years to five years, the time period for which a person awarded a state contract, change order, or contract modification must retain all books and records of cost or pricing data submitted to the state with regard to the agreement; changes, from three years to five years, the time period for which a contractor or subcontractor under a state-awarded contract must retain all books and records pertaining to the agreement; requires all state procurement contracts executed after July 1, 2024, to include a provision detailing the records retention requirement.
As enacted, changes, from three years to five years, the time period for which a person awarded a state contract, change order, or contract modification must retain all books and records of cost or pricing data submitted to the state with regard to the agreement; changes, from three years to five years, the time period for which a contractor or subcontractor under a state-awarded contract must retain all books and records pertaining to the agreement; requires all state procurement contracts executed after July 1, 2024, to include a provision detailing the records retention requirement.
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