Exempts contracts between a consultant and an institution of higher education of less than one hundred thousand dollars from competitive solicitation, except that contracts between ten and one hundred thousand dollars must be posted on the State’s common vendor registration and bid notification system as evidence of the opportunity for competitive bidding. This act exempts sole-source contracts for institutions of higher education from any formal competitive bidding process. This act exempts certain contracts with institutions of higher education from public disclosure by the Office of Financial Management. This act also provides other exemptions for institutions of higher education from state agency reporting requirements.   Official Text and Analysis.