(a) No later than 30 days before the end of the State authority's fiscal year, every State authority shall submit to the Office of the State Comptroller a report, in such form as prescribed by the Comptroller, which includes a description of every eligible contract and eligible contract amendment which the State authority reasonably anticipates entering into in the following fiscal year; provided, however, that the following eligible contract amendments shall not be included in such reports:

(1) construction contract change orders that do not exceed $100,000; and

(2) agreements to extend the duration of a contract for which there is no change in contract amount.

(b) The description for each anticipated eligible contract or eligible contract amendment specified in the report shall include, but not be limited to, the following elements:

(1) the purpose of the eligible contract or eligible contract amendment;

(2) the anticipated value of the eligible contract or eligible contract amendment;

(3) whether it is anticipated that the contract will be awarded on a competitive basis, and, if not, the basis upon which the contract will be awarded;

(4) the anticipated date for the release of the solicitation, if applicable, or execution of the eligible contract or eligible contract amendment; and

(5) the source of funding for the eligible contract or eligible contract amendment.

(c)

(1) the State authority shall provide written notice to the Office of the State Comptroller of:

(i) any eligible contract or eligible contract amendment not previously reported, together with all information required by subdivision (b) of this section;

(ii) any deletions from the list of eligible contracts or eligible contract amendments previously reported; or

(iii) any significant change in the information provided in the reports submitted by the State authority pursuant to this section. For purposes of this paragraph, a change shall be deemed significant if it affects the method of award of a contract or increases the anticipated value of a contract or contract amendment by more than 25 percent.

(2) Such written notice shall be submitted no later than 30 days after the State authority has identified the need for such addition or significant change. However, such notice must be given at least 10 days prior to the release of a solicitation related to such addition or significant change in the event of a competitive procurement, or to the execution of a contract related to such addition or significant change in the event of a noncompetitive award.

(d) The Comptroller may waive the requirements of this section for any State authority that submits eligible contracts to the Comptroller for approval pursuant to an existing law or resolution.