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NM SB381

NM SB381
Public Contract Reimbursement Rates


summary

Introduced
02/11/2021
In Committee
Crossed Over
Passed
Dead
03/20/2021

Introduced Session

2021 Regular Session

Bill Summary

AN ACT RELATING TO PUBLIC CONTRACTS; REQUIRING THAT PUBLIC CONTRACTS PROVIDE FOR INCREASED CONTRACTOR AND SUBCONTRACTOR REIMBURSEMENT AND WORKER WAGE INCREASES IN ACCORDANCE WITH AND CONCURRENT WITH STATE MINIMUM WAGE INCREASES.

AI Summary

This bill requires that public contracts for services include provisions to increase contractor and subcontractor reimbursement to offset any wage increases due to the state's minimum wage increase. It also requires that individuals employed under such contracts who are paid the state minimum wage receive wage increases concurrent with the state minimum wage increases. The key terms defined in the bill are "contract," which refers to any agreement for the procurement of services, and "services," which means the furnishing of labor, time, or effort by a contractor or subcontractor, excluding the delivery of a specific end product.

Committee Categories

Budget and Finance

Sponsors (1)

Last Action

Senate Tax, Business and Transportation Committee (00:00 3/14/2021 Room zoom) (on 03/14/2021)

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