SB 1704 Summary

• Amends 60 O.S. Section 176 to authorize public trusts to provide a local bid preference of up to 5% on construction contracts exceeding $50,000 when the governing body determines economic benefit to the local area or economy.

• Requires any local bid preference granted by public trusts must comply with an established policy adopted by the governing body that clearly demonstrates the economic benefit to the local area or economy.

• Amends 61 O.S. Section 103 to add identical local bid preference language allowing up to 5% preference on public construction contracts exceeding $50,000 for governmental entities.

• Preference provisions apply only to construction contracts and must be authorized through formal policy establishing clear economic benefits to the local area.

• Declared an emergency measure effective upon passage and approval by the Governor.