SB 1582 Summary

• Amends 59 O.S. Section 46.21b to lower the valuation threshold for government building projects requiring architect planning and design from $158,000 to $150,000

• Modifies 61 O.S. Section 1 to increase the public construction contract bonding threshold from $50,000 to $150,000 for projects requiring performance and payment bonds

• Updates 61 O.S. Section 107 to raise the public construction bid threshold from $50,000 to $150,000 for bidders required to provide certified checks, cashier's checks, or bid bonds equal to 5% of the bid amount

• Updates 61 O.S. Section 113 to increase the contract execution threshold from $50,000 to $150,000 for performance bonds, payment bonds, and defect warranties on public construction projects

• Declares an emergency, making the act effective upon passage and approval