The bill amends N.J.S.18A:18A-5 and N.J.S.18A:18A-42, which pertain to the exceptions for advertising contracts and the duration of contracts for goods and services by boards of education in New Jersey. Notably, it retains the existing exceptions for contracts that exceed the bid threshold, including professional services, extraordinary unspecifiable services, and various other categories such as food supplies and insurance. The bill also clarifies that contracts for professional services are limited to a maximum of 12 months, while other contracts can be awarded for up to 24 months. Additionally, it allows for longer contract terms for specific services, such as fuel supply and data processing, with certain stipulations regarding approval and duration.

The bill also includes several deletions of previous provisions, specifically removing certain categories of exceptions that were previously included. For instance, it deletes references to specific types of contracts that are no longer applicable, streamlining the exceptions list. Furthermore, it establishes guidelines for extending contracts beyond their initial terms, ensuring that extensions are based on performance evaluations and price adjustments. Overall, the bill aims to enhance the efficiency and transparency of the contracting process for educational institutions while maintaining necessary oversight and competitive bidding practices.