SB 3992

Abstract

Creates the Best Customer Price Act. Provides that a public institution of higher education or a State agency may require best customer pricing for any goods it procures. Provides that, if goods are to be purchased by the State from a supplier or reseller, the supplier or reseller shall attest that the price is the best customer price. Provides that the supplier or reseller shall include a provision in the letter of supply from the manufacturer that the supplier or reseller can secure the supply and quantity of goods to be purchased, and that the manufacturer has extended the same best customer pricing from the manufacturer to each of the suppliers or resellers registered with the State for the goods to be purchased. Provides that, if a public institution of higher education or a State agency requires best customer pricing for the goods but does not believe the price is competitive, the public institution of higher education or the State agency may decline to award the bid. Effective immediately.