(a)

(1) The Comptroller shall periodically determine which eligible contracts and eligible contract amendments shall be subject to the Comptroller's approval.

(2) Once the Comptroller has determined that any eligible contract, eligible contract amendment, category of eligible contracts or category of eligible contract amendments shall be subject to approval by the Comptroller, the Comptroller shall provide written notice of such determination to the affected State authorities as soon as practicable.

(3) Such written notice shall include instructions for submitting any such contracts or contract amendments and the period of time during which the State authority is required to submit the contracts and/or contract amendments.

(4) Where a State authority that is subject to the publication requirements contained in article 4-c of the Economic Development Law believes that an eligible contract, described in a written notice provided by the Comptroller pursuant to this section, is exempt from such requirements under paragraph (a) of subdivision 1 of section 144 of the Economic Development Law, the State authority must obtain the Comptroller's approval for such exemption.

(b) The Comptroller's determination of which eligible contracts or eligible contract amendments shall be subject to his or her approval may include, but shall not be limited to, consideration of one or more the following criteria:

(1) number and dollar value of contracts entered into, or anticipated to be entered into, by the State authority;

(2) past practices of the State authority with respect to its contracting or procurement process as identified by audits performed by regulating bodies including, but not limited to, the Office of the State Comptroller;

(3) the types of contracts entered into by the State authority;

(4) the presence or absence of competition in the procurement process;

(5) the level of financial risk posed by the State authority's contracts;

(6) any potential liability for the State posed by the State authority's contracts;

(7) the content and adequacy of the State authority's existing procurement guidelines; and

(8) the State authority's compliance with the provisions in section 206.7 of this Part regarding the filing of exempt contracts, exempt contract amendments, certain eligible contracts and certain eligible contract amendments.