Assembly Bill 526 aims to amend the statutes regarding airport improvement contracts by renumbering and modifying existing provisions and introducing new definitions. Specifically, it renumbers the current statute 114.32 (3) to 114.32 (3) (a) and clarifies that all contracts for airport-related projects, except as specified in new subsections (b) and (c), must be entered into by the secretary of transportation in accordance with state laws governing similar contracts. The bill also establishes that if any airport project is financed with federal funds, the secretary must award contracts as authorized by federal authorities, overriding any conflicting state laws.

Additionally, the bill creates a new subsection, 114.32 (3) (c), which defines "construction manager at risk contracts" as agreements where the construction manager commits to completing the project within a guaranteed maximum price. It further defines "qualified projects" as those involving the construction or improvement of a structure, including necessary sitework. The secretary of transportation is granted the authority to enter into these construction manager at risk contracts for qualified projects, allowing for selection criteria beyond just price, as long as it aligns with federal guidelines.