Any qualified contract described in subdivision (1) of subsection (b) of section 10a-151f, and any revenue contract or nonmonetary contract that is not a qualified contract, as such terms are defined in section 10a-151f, that is (1) entered into or amended on or after July 1, 2017, by the chief executive officer of the Board of Regents for Higher Education, the chief executive officer of an institution within the jurisdiction of the Board of Regents for Higher Education or the chief executive officer of The University of Connecticut, and (2) a large state construction or procurement contract, as defined in section 1-101mm, shall not be required to comply with the provisions of section 1-101qq. If the chief executive officer of said board or such an institution opts to not comply with section 1-101qq for such a qualified, revenue or nonmonetary contract, the contract shall contain the following provision: “Any person who is a party to the contract, and any key employees, subcontractors and consultants working under the contract, shall comply with the provisions of the state code of ethics set forth in sections 1-84, 1-86e and 1-101nn of the general statutes.”.