Section 24-17-203 - DefinitionsAs 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.L. 2004: Entire part added, p. 1125, § 1, effective May 27.