PROCURE-IDOT OVERHEAD RATES

Amends the Architectural, Engineering, and Land Surveying Qualifications Based Selection Act. Provides that the Department of Transportation shall not, for the purpose of establishing overhead rates in any contract entered into between the Department and an engineering firm, consider any loans forgiven under the federal Paycheck Protection Program as a credit to the government in a way that would result in a reduced payment amount owed to the engineering firm under the contract. Provides for the adoption of rules. Senate Committee Amendment No. 1 Provides that the Department of Transportation shall not, for the purpose of establishing overhead rates in any contract entered into between the Department and a firm (rather than an engineering firm), consider any loans forgiven under the federal Paycheck Protection Program as a credit to the government in a way that would result in a reduced payment amount owed to the firm under the contract.