Performance and payment bonds; increase the lump-sum threshold to $75,000.00 for.

SB 2372 increases the threshold for requiring performance and payment bonds on public construction projects in Mississippi from $50,000 to $75,000. This means public agencies (like cities, counties, or the state) can choose to make a single lump-sum payment at project completion instead of requiring bonds for contracts valued at $75,000 or less. The bill directly affects contractors and public bodies handling smaller public construction projects, removing a bond requirement for those below the new threshold. The key change simplifies administrative processes for low-value contracts without altering bond requirements for larger projects.