SB260 Summary

• Increases the competitive bidding threshold for public fund expenditures from $15,000 to $25,000 for labor, services, materials, equipment, supplies, and leases.

• Allows awarding authorities (counties, municipalities, and their instrumentalities) to establish local preference zones for contract awards, permitting preference for local bidders within 5 percent of the lowest bid.

• Permits multi-county awarding authorities to establish local preference zones limited to the municipality where their headquarters is located, rather than across all counties they serve.

• Allows awarding authorities to award contracts to qualified state-based bidders (woman-owned, small business, minority-owned, veteran-owned, or disadvantaged-owned enterprises) with bids up to 10 percent higher than foreign entity bids.

• Becomes effective on the first day of the third month following passage and approval by the Governor.