MS HB525

Increases the contract approval threshold for the Mississippi Department of Corrections from an unspecified amount to Five Hundred Thousand Dollars ($500,000.00) that requires Public Procurement Review Board approval.

Requires the Public Procurement Review Board to document all contract awards on minutes before funds are expended, including detailed accounting of all bids received and identification of the lowest bid.

Mandates justification and reasons be documented on the minutes if the awarded contract is not the lowest bid received.

Requires monthly copies of Public Procurement Review Board minutes be sent to the Governor, Legislative Budget Office members, and Corrections Committee Chairmen of both the Senate and House.

Effective date: July 1, 2012.