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 award contracts without advertising if the aggregate amount does not exceed $150,000, with further increases to $200,000 in 2023 and $250,000 in 2024. The bill also removes the previous reference to the Division of Building and updates the language to reflect the new title of the division. The Governor is tasked with adjusting the threshold amount every five years based on the index rate, ensuring that the threshold remains relevant to economic conditions. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 52:34-7