OK HB2548

Increases the emergency contract threshold for public trusts from $50,000 to $75,000, allowing contracts without public notice or competitive bids when trustees find an immediate emergency exists to avoid loss of life, property damage, or threats to public safety

Authorizes public trusts, counties, cities, and other local governments to provide a local bid preference of up to 5% of the bid price on construction contracts exceeding $50,000 when the governing body determines there is an economic benefit to the local area

Requires local bidders receiving preference to match the exact price and terms of the lowest nonlocal bid, and limits the preference to situations where the local bidder is the second-lowest qualified bidder

Mandates that governing bodies adopt a policy demonstrating economic benefit before granting local bid preferences, and requires bid specifications to clearly disclose that bids are subject to local preference law

Amends both the public trust statute (60 O.S. Section 176) and the Public Competitive Bidding Act of 1974 (61 O.S. Section 103) to establish consistent local preference provisions across public entities