The bill amends the Procurement Code to significantly raise the monetary thresholds for various public works projects and procurement processes. It increases the minimum amount for projects requiring professional services from $50,000 to $100,000 and raises the threshold for central purchasing offices to send notices for bids from $20,000 to $100,000. Additionally, the bill allows for the procurement of services, construction, or items valued at up to $100,000 under small purchase rules and increases the threshold for requiring cost or pricing data from $25,000 to $60,000. It also modifies the time frame for posting notices of intent to award sole source contracts from thirty days to fifteen days.

Moreover, the bill introduces new definitions, such as "public-private partnership agreement" and "best obtainable price," and establishes a certification program for chief procurement officers, which includes recertification through continuing education. It extends the maximum duration of multi-term contracts for professional services from four years to eight years and expands exemptions from the Procurement Code for specific contracts, including those for digitizing records and appraisals for real property. The effective date for these changes is set for July 1, 2025, with the overall aim of streamlining procurement processes and enhancing efficiency in state contracting.

Statutes affected:
introduced version: 13-1-66.1, 13-1-95.2, 13-1-99, 13-1-104, 13-1-106, 13-1-118, 13-1-122, 13-1-125, 13-1-126.1, 13-1-138, 13-1-150