DE SB208

Changes the performance review requirement period for public works contractors from 10 years to 5 years of prior experience on public or private construction projects.

Establishes a performance-based rating system for Department of Transportation projects (excluding Community Transportation Fund and municipal street aid contracts) with contractor eligibility requirements defined in DOT regulations.

Allows contractors who do not meet the minimum performance rating to bid if they agree to a variable retainage of up to 5% of contract payments, which may be reduced to 2% at 50% project completion following interim evaluation.

Modifies best value bid evaluation criteria to require price weighting of 70-90%, schedule weighting of 10-20%, and performance weighting of 10-20%, with performance ratings based on contractor's previous contracting performance.

Creates a stakeholder panel composed of government officials, labor organizations, construction industry representatives, and public members to advise the Department of Transportation on performance-based rating system regulations by September 1, 2018.