A state agency shall provide a report to the budget committee not later than January 1, April 1, July 1, and October 1 of each year, in the form and manner designated by the budget committee, that details the contract amendments entered into by the state agency since the date of the last report under this section to which at least one (1) of the following applies:

1. (1) For any contract, increase the maximum contract amount by an amount that is not less than five hundred thousand dollars ($500,000).
2. (2) For an initial contract with a maximum contract amount of not less than five hundred thousand dollars ($500,000), extend the term of the initial contract for a period of not less than six (6) months.

As added by P.L.182-2025, SEC.6.