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Work group hears idea to use vendor surcharge to create 'inflation insurance' for purchasing
Summary
As a more experimental idea, members discussed increasing the state's vendor surcharge (currently 0.5%) to create an inflation‑adjustment fund that would preserve purchasing power for long‑lived state purchases (desks, asphalt, computers). The concept would be further developed if the committee chooses to advance bill 4.
A work‑group member (S4) described bill 4 as an idea to increase the purchasing department's vendor surcharge (today 0.5%) to a higher percentage that would act as an 'inflation insurance' pool for long‑term procurement — effectively a small, earmarked surcharge to stabilize purchasing power for items the state buys repeatedly.
Committee members received the concept as an exploratory idea rather than near-term legislation. Staff asked for examples and draft language to be circulated; S4 and others suggested additional review with purchasing officials and fiscal staff before advancing this item.
