A bill for an act related to guaranteed maximum price contracts for the construction of public improvements.

SSB 1168 modifies Iowa's public construction contracting rules for projects exceeding $150 million. It requires governmental entities to select construction managers based solely on the lowest cost proposal (not "best value"), mandates that all proposals include full costs without contingencies, and rejects bids containing contingent amounts. The bill also specifies that if trade work exceeds a certain cost threshold, construction managers must direct design professionals to prepare plans and hold competitive bids, while allowing self-performance for smaller trade packages. This directly affects Iowa cities, counties, and state agencies managing large public construction projects and the contractors bidding on them.