OK HB3417

Amends 11 O.S. 2021, Section 10-116 to clarify that city council competitive bidding requirements operate in addition to the Public Competitive Bidding Act provisions

Authorizes political subdivisions, public trusts, and nonappropriated governmental agencies to use reverse auction bidding procedures as an alternative to existing state procurement laws for purchasing goods or services

Reverse auctions must be real-time, Internet-based bidding events with scheduled times, anonymous suppliers, and established durations, with required 15-minute notice if closing time is extended

Political subdivisions may require bidder registration and prequalification, determine award criteria, and accept late bids if significant errors affected electronic receipt

Repeals existing reverse auction statutes (11 O.S. 2021, Sections 17-115 and 17-115.1) and consolidates procedures into new Section 141 of Title 61, effective November 1, 2026