The Florida Senate

287.0572  Present-value methodology.--

(1)  The cost of bids or proposals for state contracts which require the payment of money for more than 1 year and include provisions for unequal payment streams or unequal time payment periods shall be evaluated using present-value methodology. Each agency, as defined in s. 287.012(1), shall perform the evaluation using the present-value discount rate supplied by the Department of Management Services. The present-value discount rate shall be the rate for United States Treasury notes and bonds published in the Interest Rates: Money and Capital Markets section of the most recent copy of the Federal Reserve Bulletin published at the time of issuance of the request for proposals or the invitations to bid.

(2)  The Department of Management Services may adopt rules to implement the provisions of subsection (1).

History.--ss. 1, 2, ch. 85-122; s. 252, ch. 92-279; s. 55, ch. 92-326.