HB 1057 2022
CODING: Words stricken are deletions; words underlined are additions.
hb1057-00
Page 1 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
A bill to be entitled 1
An act relating to evidence of vendor financial 2
stability; amending s. 287.057, F.S.; providing that 3
an agency that requires a vendor to demonstrate 4
financial stability during a competitive solicitation 5
process must accept certain evidence; providing an 6
effective date. 7
8
Be It Enacted by the Legislature of the State of Florida: 9
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Section 1. Subsection (27) is added to section 287.057, 11
Florida Statutes, to read: 12
287.057 Procurement of commodities or contractual 13
services.— 14
(27) An agency that requires a vendor to demonstrate 15
financial stability during the competitive solicitation process 16
must accept any of the following as evidence of such stabi lity: 17
(a) Audited financial statements demonstrating generally 18
accepted financial stability criteria. 19
(b) Documentation of an investment grade rating from a 20
credit rating agency that is designated as a nationally 21
recognized statistical rating organizat ion by the Securities and 22
Exchange Commission. 23
(c) For a vendor with annual revenues exceeding $1 24
billion, a letter issued by the chief financial officer or 25
HB 1057 2022
CODING: Words stricken are deletions; words underlined are additions.
hb1057-00
Page 2 of 2
F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
controller of such vendor demonstrating generally accepted 26
financial stability criteria. 27
Section 2. This act shall take effect upon becoming a law. 28