Definitions

24-17-203. Definitions. As used in this part 2, unless the context otherwise requires: (1) Contingency-based contract means a contract entered into by a state agency and a vendor for services that: (a) Requires all or part of the vendor's compensation to be computed by multiplying a stated percentage times the amount of measurable savings in the state agency's expenditures or costs of operation that are demonstrably attributable to the vendor's services under the contract; and (b) Is entered into without the authority of a state statute that specifically authorizes the agency to enter into such a contract. (2) Office means the office of state planning and budgeting created in section 24-37-102. Source: L. 2004: Entire part added, p. 1125, � 1, effective May 27.