This bill amends existing legislation regarding guaranteed maximum price contracts for public improvement construction projects in Iowa. It stipulates that governmental entities can only enter into such contracts if the estimated project cost exceeds $150 million. Additionally, it mandates that proposals from construction managers-at-risk must include detailed proposed costs for general conditions without any contingencies, and any bids containing contingent amounts will be rejected.

Furthermore, the bill changes the selection criteria for construction managers-at-risk from "best value" to "lowest cost," removing the previous requirement for the governmental entity to assess whether awarding a contract to a non-lowest bidder is in the project's best interest. It also requires that if the estimated cost of trade contract work exceeds a certain threshold, the construction manager-at-risk must have a licensed professional prepare and make available the necessary plans and specifications for the project.

Statutes affected:
Introduced: 26A.2, 26A.3