AN ACT INCREASING THE PREVAILING WAGE THRESHOLDS FOR NEW CONSTRUCTION AND RENOVATIONS.

HB 6417 increases the dollar thresholds for public construction projects requiring prevailing wage rates. It raises the threshold for new construction from $1 million to $1.5 million and for renovations (including repairs and rehabilitation) from $100,000 to $500,000. This change directly affects smaller public works projects that fall below these new limits, meaning contractors on those projects will no longer need to pay prevailing wage rates. The bill’s stated purpose is to reduce costs for these smaller projects by expanding the exemption from prevailing wage requirements.