287.017  Purchasing categories, threshold amounts; procedures for automatic adjustment by department.--

(1)  The following purchasing categories are hereby created:

(a)  CATEGORY ONE: $15,000.

(b)  CATEGORY TWO: $25,000.

(c)  CATEGORY THREE: $50,000.

(d)  CATEGORY FOUR: $150,000.

(e)  CATEGORY FIVE: $250,000.

(2)  The department shall adopt rules to annually adjust the amounts provided in subsection (1) based upon the rate of change of a nationally recognized price index. Such rules shall include, but not be limited to, the following:

(a)  Designation of the nationally recognized price index or component thereof used to calculate the proper adjustment authorized in this section.

(b)  The procedure for rounding results.

(c)  The effective date of each annual adjustment based upon the previous calendar year data.