Bill > SB408

This bill increases the monetary limits for multiple source contracts for architectural and engineering services and construction contracts by state agencies and local public bodies. Specifically, the bill raises the maximum total contract amount for a single contractor from $7.5 million to $15 million over four years for architectural and engineering services, with individual contracts now able to reach up to $2 million instead of the previous $650,000 limit. For indefinite quantity construction contracts, the total contract amount limit increases from $12.5 million to $30 million, now over a ten-year period instead of three years, with individual purchase orders now allowed to reach up to $7 million, up from the previous $4 million limit. The bill maintains existing requirements for advertising, selection processes, and contract terms, and continues to mandate that state agencies and local public bodies report contract details to the legislative finance committee and the purchasing division of the general services department. These changes are designed to provide more flexibility and purchasing power for state and local government entities when procuring architectural, engineering, and construction services.

Budget and Finance

https://www.nmlegis.gov/Legislation/Legislation?chamber=S&legtype=B&legno=408&year=25