MS SB2574

Increases the threshold amount for lump-sum payments from $25,000 to $50,000 for public works contracts with the state, counties, cities, or political subdivisions.

Contracts under $50,000 may now be completed with a single lump-sum payment at job completion without requiring performance or payment bonds.

Lump-sum payments cannot be made until the work is completed and accepted by the governing agency.

Effective July 1, 2025.