H.B. 1102 Summary

• Increases the individual capital advancement contract value threshold for the Department of Transportation from $2,000,000 to $5,000,000 without requiring legislative approval.

• Raises the total aggregate annual value limit for all capital advancement contracts from $5,000,000 to $20,000,000 per fiscal year.

• Changes the reporting period from calendar year to fiscal year (December 1 to November 30).

• Requires the Department of Transportation to submit an annual report to the legislature documenting all executed capital advancement contracts within 20 days prior to the convening of the regular legislative session, beginning in 2024.

• Eliminates the requirement for legislative approval via concurrent resolution for individual contracts exceeding $2,000,000.