Florida League of Cities

Evidence of Vendor Financial Stability (Watch) – PASSED 

CS/CS/HB 1057 (Andrade) states that agencies who require vendors to demonstrate financial stability during the competitive solicitation process must accept any of the following as evidence of such stability: audited financial statements, documentation of an investment-grade rating from a credit rating agency, or for vendors with annual revenues exceeding $1 billion, a letter issued by the chief financial officer or controller of that vendor. CS/CS/HB 1057 passed the House (112-0) and the Senate (37-0) and is awaiting action by the Governor. (Taggart)