AN ACT INCREASING THE THRESHOLD FOR SEALED BIDDING ON CERTAIN MUNICIPAL CONTRACTS.

This bill increases the monetary limit for municipal contracts that do not require formal sealed bidding from twenty-five thousand dollars to fifty thousand dollars. It allows local governments to adopt ordinances specifying that purchases or contracts valued at or below this new threshold can be awarded without a mandatory public bid process. The change applies to the acquisition of both real and personal property and takes effect on October 1, 2024. Municipalities retain the ability to set their own lower thresholds or maintain stricter bidding rules if they choose to do so.