Bill > H4397

This bill modernizes municipal finance and government by updating procurement thresholds, establishing new procedures for managing municipal funds, and clarifying various financial and administrative processes. Key provisions include raising the threshold for requiring competitive bids on public works and building projects from $10,000 to $50,000, with specific requirements for public notification and seeking multiple quotes for contracts between $10,000 and $50,000, and requiring competitive bids for contracts over $50,000. It also introduces new rules for establishing and managing Other Post-Employment Benefits (OPEB) Liability Trust Funds, which are designed to help governmental units set aside funds for future retiree health insurance liabilities. The bill also allows cities and towns to create stabilization funds for various lawful purposes, permits the use of electronic poll books for elections, and modifies rules regarding the collection of taxes, including the ability to lien unpaid municipal charges and fines. Additionally, it updates provisions related to joint powers agreements, allowing governmental units to collaborate on shared services, and revises guidelines for municipal audits and financial reporting to promote greater uniformity and efficiency. The bill also makes changes to how certain taxes are assessed and collected, including property taxes, motor vehicle excise taxes, and assessments for public works projects, and introduces new provisions for workforce housing special tax assessment plans. Finally, it updates procurement rules for telecommunication and data cabling, and modifies procedures for handling traffic citations, including the adoption of electronic citation systems.