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Bill > S3573


NJ S3573

NJ S3573
Increases bid advertising threshold on certain purchases, contracts, or agreements.


summary

Introduced
09/12/2024
In Committee
09/12/2024
Crossed Over
Passed
Dead
01/12/2026

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill increases, from $25,000 to $150,000, the bid advertising threshold on certain State contracts. This bill would allow smaller construction and repair projects under $150,000 to be informally bid by the using agency without full advertising thereby reducing the time and cost required to complete these smaller projects. Under current law, any purchase, contract, or agreement may be made, negotiated, or awarded by the Director of the Division of Purchase and Property or the Director of the Division of Property Management and Construction without advertising if the aggregate amount involved including labor and construction materials does not exceed $25,000 or the amount adjusted by the Governor, in consultation with the Department of the Treasury as permitted by current law. This threshold applies to certain contracts or agreements for the erection, construction, alteration or repair of any public building or facility. The most recent adjustment to the amount was made in 2021 and is currently $71,000. This bill increases the bid advertising threshold in the case of purchases of labor and construction materials to $150,000.

AI Summary

This bill increases the bid advertising threshold on certain State contracts from $25,000 to $150,000. This change allows smaller construction and repair projects under $150,000 to be informally bid by the using agency without full advertising, reducing the time and cost required to complete these smaller projects. The bill also provides for periodic adjustments to the threshold amount by the Governor in consultation with the Department of the Treasury, to account for inflation.

Committee Categories

Government Affairs

Sponsors (3)

Last Action

Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 09/12/2024)

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