House Bill No. 2590 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 must include essential information such as the legal name of the vendor, their jurisdiction of incorporation, the names of principal officers, a description of prior experience with federal funds, the most recent financial audit, and any pending civil cases involving the vendor.

The bill outlines specific requirements for the content of the form to ensure thorough evaluation of vendors before contracts are awarded. It is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.