287.017 Purchasing categories, threshold amounts; procedures for automatic adjustment by ¹division.--

1. (1) The following purchasing categories are hereby created:

   1. (a) CATEGORY ONE: $5,000.
   2. (b) CATEGORY TWO: $15,000.
   3. (c) CATEGORY THREE: $20,000.
   4. (d) CATEGORY FOUR: $60,000.
   5. (e) CATEGORY FIVE: $120,000.

2. (2) The ¹division shall adopt rules to annually adjust the amounts provided in subsection (1) based upon the rate of change of a nationally recognized price index. Such rules shall include, but not be limited to, the following:

   1. (a) Designation of the nationally recognized price index or component thereof used to calculate the proper adjustment authorized in this section.
   2. (b) The procedure for rounding results.
   3. (c) The effective date of each annual adjustment based upon the previous calendar year data.

3. (3) Notwithstanding s. 240.225, the State University System shall be subject to the rules adopted pursuant to this section.

   ¹Note.--Deleted in the reorganization of the Department of Management Services by s. 3, ch. 97-296. Section 4, ch. 97-296, requires the Division of Statutory Revision to prepare a reviser's bill for submission to the 1998 Regular Session of the Legislature substituting references to the Department of Management Services in the Florida Statutes for references to divisions, bureaus, or other units of that department.

History.--ss. 5, 13, ch. 86-204; ss. 12, 34, ch. 90-268; s. 3, ch. 96-236.