PROCUREMENT CHANGES

SB 153 simplifies certification requirements for New Mexico resident businesses and contractors seeking state procurement preferences. It reduces the required tax payment period from five years (for contractors) and three years (for businesses) to three years for all, making it easier for local entities to qualify. The bill also adds new definitions (like "best obtainable price"), aligns the small business definition with federal law, and extends professional services contracts to eight years. Other key changes include streamlining sole-source contracts (max four years), increasing exemption thresholds for small purchases, and requiring clearer documentation for procurement decisions.