House Bill No. 2590, introduced by Staires, mandates the Office of Management and Enterprise Services to create a standardized form for evaluating prospective vendors who wish to manage federal funds on behalf of state governmental entities. This form will be required for use by all agencies, boards, commissions, and departments within the executive branch. The bill outlines specific content that must be included in the form, such as the legal name of the vendor, their jurisdiction of incorporation, the names of principal officers, prior experience with federal funds management, the most recent financial audit, and any pending civil cases involving the vendor.

The bill is set to take effect on July 1, 2025, and includes an emergency clause, indicating its immediate necessity for the preservation of public peace, health, or safety. This legislation aims to enhance transparency and accountability in the management of federal funds by ensuring that state entities thoroughly vet potential vendors before entering into contracts.