(a) The department shall monitor and report to the Texas Transportation Commission, on a quarterly basis, the performance and status of each contract, other than a low-bid construction and maintenance contract, that is valued at $50 million or more or that the department determines constitutes a high-risk to the department.     
      (b) The department immediately shall notify the commission of any serious issue or risk that is identified in a contract and that has not been reported in a quarterly report provided under subsection (a) of this section.     
      (c) This section does not apply to a memorandum of understanding, interagency contract, interlocal agreement, or contract for which there is not a cost.     
     Source Note:        The provisions of this §9.8 adopted to be effective May 16, 2018, 43 TexReg 3121; amended to be effective November 17, 2021, 46 TexReg 7805