MS HB196

Increases threshold from $25,000 to $75,000 for public works contracts where owners may elect lump-sum payment at completion instead of requiring performance or payment bonds.

Increases threshold from $25,000 to $75,000 for requiring general liability insurance coverage of at least $1,000,000 for bodily injury and property damage on public contracts with counties, cities, or other public authorities.

Makes general contractors liable for any amount of required general liability insurance coverage below the minimum that subcontractors lack or are underinsured on contracts exceeding $5,000 with the state or $75,000 with local public authorities.

Exempts persons entering into contracts with the Mississippi Department of Rehabilitation Services for home construction or repair for disabled individuals from the general liability insurance requirement.

Takes effect July 1, 2025.