Public works contracts; revise contract threshold amounts relating to performance bond and general liability insurance requirements.

HB 196 increases Mississippi's threshold for requiring performance bonds and general liability insurance on public works contracts. It raises the contract value from $25,000 to $75,000 for local government projects (cities/counties) before a performance bond is required, allowing lump-sum payments instead for smaller contracts. For contracts exceeding $75,000 with local governments or $5,000 with the state, contractors must provide $1 million in general liability insurance, and general contractors become liable if subcontractors lack adequate coverage. This bill directly affects contractors bidding on public construction, alteration, or repair work, and public entities like cities, counties, and the state. The bill died in committee in February 2025 and did not become law.