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NJ S3573
Bill
Status
9/12/2024
Primary Sponsor
Joseph Cryan
Click for details
AI Summary
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Increases the bid advertising threshold for State construction contracts (erection, construction, alteration, or repair of public buildings or facilities) from $25,000 to $150,000
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Allows smaller construction and repair projects under $150,000 to be informally bid by the using agency without full public advertising, reducing time and costs
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Updates statutory references from the Division of "Building" and Construction to the Division of "Property Management" and Construction
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The threshold remains subject to adjustment by the Governor every five years based on the index rate, rounded to the nearest $1,000
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Current adjusted threshold prior to this bill is $71,000 (set in 2021); this bill would more than double that amount to $150,000
Legislative Description
Increases bid advertising threshold on certain purchases, contracts, or agreements.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
9/12/2024