(a) The CPO may establish a streamlined process for entering into contracts for goods and services not exceeding $100,000. The process shall set forth:
(1) Requirements for basic competition, including solicitation of contracts or orders from multiple vendors;
(2) A noncompetitive process for entering into contracts under a dollar threshold established by the CPO not to exceed $10,000; and
(3) Requirements that purchases be made transparent.
(a-1) The Tax Revision Commission may establish a streamlined noncompetitive process for entering into contracts for goods and services not exceeding $40,000.
(b) Procurement requirements shall not be parceled, split, divided, or purchased over a period of time to avoid the $100,000 limitation of subsection (a) of this section or the $40,000 limitation of subsection (a-1) of this section.
(c) The CPO shall implement standards to monitor small purchase procedures to ensure compliance with applicable laws, rules, and policies.