THE MANAGEMENT AND BUDGET ACT (EXCERPT)
Act 431 of 1984
As used in this section and sections 294 to 297:
(a) "Committee" means the committee on the purchase of goods and services from community rehabilitation organizations created in section 295.
(b) "Community rehabilitation organization" means a nonprofit charitable organization or institution incorporated in this state that is operated for the purpose of carrying out a recognized program of employment and training services for people with disabilities.
(c) "Fair market price" means the price established by the committee for goods or services to be purchased from community rehabilitation organizations based upon 1 or more of the following:
(i) Available information from reliable market sources.
(ii) A market survey conducted by a person designated by the committee.
(iii) Previous contract prices adjusted for market conditions.
(iv) The range of bids from the most recent solicitation, including a determination of the median price, average price, and any market conditions that have changed since the most recent solicitation.
(v) Cost analysis.
(vi) Other methods as determined by the committee.
History: 1984, Act 431, Eff. Mar. 29, 1985
Am. 2010, Act 372, Imd. Eff. Dec. 22, 2010
Popular Name: Act 431
Popular Name: DMB
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