New Jersey § 52:27c-76

§ 52:27c-76.

a. All purchases, contracts, or agreements, where the cost or contract price exceeds

the sum of $25,000, or, after January 1, 1999, the amount determined pursuant to subsection

b. of this section, shall, except as otherwise provided in this act, be made, negotiated,

or awarded only after public advertisement for bids therefor and shall be awarded

to that responsible bidder whose bid, conforming to the invitation for bids, is most

advantageous to the commission in its judgment, upon consideration of price and other

factors. Any bid may be rejected when the commission determines that it is in the public

interest to do so. Any purchase, contract, or agreement, where the cost or contract price is less than

or equal to $25,000, or the amount determined pursuant to subsection b. of this section,

shall be made, negotiated, or awarded by the commission without advertising and in

any manner which the commission, in its judgment, deems necessary to serve its unique

interests and purposes and which promotes, whenever practicable, full and free competition

by the acceptance of quotations or proposals or by the use of other suitable methods. b. Commencing January 1, 1999, the Governor, in consultation with the Department of

the Treasury, shall no later than March 1 of each odd numbered-year adjust the threshold

amount set forth in subsection a. of this section, or subsequent to 1999 the threshold

amount resulting from any adjustment under this subsection, in direct proportion to

the rise or fall of the consumer price index for all urban consumers in the New York

City and the Philadelphia areas as reported by the United States Department of Labor. The Governor shall, no later than June 1 of each odd-numbered year, notify the commission

of the adjustment. The adjustment shall become effective on July 1 of each odd-numbered year.