(1) Any air board that operates a commercial airport serving more than one million (1,000,000) passengers annually may:
(a) Use small purchase procedures established by the Federal Aviation Administration for expenditures that do not exceed the simplified acquisition threshold identified in 2 C.F.R. sec. 200.88; and (b) Purchase goods or services directly from vendors who maintain General Services Administration price agreements with the United States pursuant to 40 U.S.C. sec.
502.
(2) Any air board operating under the provisions of subsection (1) of this section shall be exempt from the requirements of KRS 45A.345 to 45A.460 and 424.260 for purchases outlined in KRS 82.084.