(1) When, pursuant to rules, the chief procurement officer or a procurement official determines in writing that the use of an invitation for best value bids is advantageous to the state, a contract may be solicited by invitation for best value bids.

(2) An invitation for best value bids shall be made in the same manner as provided in section 24-103-202 (2), (3), and (4).

(3) (a) The chief procurement officer or procurement official may allow a bidder to submit prices for enhancements, options, or alternatives to the base bid for a commodity or service that will result in a product or service to the state having the best value at the lowest cost. The invitation for best value bids must clearly state the purchase description of the commodity or service being solicited and the types of enhancements, options, or alternatives that may be bid; except that the functional specifications integral to the commodity or service may not be reduced.

(b) Prices for enhancements, options, or alternatives to the bid may be evaluated by the chief procurement officer or procurement official to determine whether the total of the bid price and the prices for enhancements, options, or alternatives provide a contract with the best value at the lowest cost to the state. This evaluation shall be made utilizing the rules of the executive director of the department of personnel promulgated pursuant to subsection (3)(d) of this section.

(c) A contract may be awarded to a bidder where the total amount of a bid price and the prices for enhancements, options, or alternatives of the bidder exceed the total amount of the bid price and the prices for enhancements, options, or alternatives of another bidder if it is determined pursuant to subsection (3)(b) of this section that the higher total amount provides a contract with the best value at the lowest cost to the state.

(d) The executive director of the department of personnel shall promulgate rules to be utilized by the chief procurement officer or procurement official in making the evaluation pursuant to subsection (3)(b) of this section. The rules shall provide:

(I) Criteria for objectively measuring prices for enhancements, options, or alternatives to a bid, including relevant formulas or guidelines;

(II) Criteria for objectively determining whether the prices for enhancements, options, or alternatives provide the best value at the lowest cost to the state.

(4) The contract shall be awarded with reasonable promptness by written notice to the bidder whose bid provides for a contract with the best value at the lowest cost to the state.