This bill amends current law to increase the bid advertising threshold for certain State contracts, specifically for purchases, contracts, or agreements related to labor and construction materials. The threshold is raised from $25,000 to $150,000, allowing smaller construction and repair projects to be informally bid by the using agency without the need for full advertising. This change aims to streamline the process and reduce the time and costs associated with completing these smaller projects.

Additionally, the bill specifies that the Director of the Division of Purchase and Property or the Director of the Division of Property Management and Construction can delegate their authority to make, negotiate, or award contracts without advertising when the aggregate amount involved does not exceed the new threshold. The bill also maintains provisions for periodic adjustments to the threshold amount based on the index rate, ensuring that it remains relevant over time. The adjustments will be made every five years, with the next notification due by June 1 of the relevant year.

Statutes affected:
Introduced: 52:34-7