DE SB73

Extends the validity period for prequalification classification issued by the Office of Management and Budget from 12 months to 24 months for contractors and subcontractors bidding on public works contracts

Requires contractors and subcontractors to request reclassification after the 24-month period (previously 12 months) to remain eligible to bid on public works contracts requiring prequalification

Maintains existing requirement that contractors report any material changes that could adversely affect their prequalification status to the Office in writing within 10 days

Allows contractors to voluntarily report positive material changes that could improve their prequalification status

Preserves the Director's sole discretion to change classification or revoke prequalification based on reported information