Increases certain local public contract bid threshold.

This bill raises the threshold for local public contracts in New Jersey from $17,500 to $22,000. It allows local governments (like towns and counties) to authorize designated purchasing agents to award contracts under $22,000 without requiring public bidding. The change applies to contracts where the governing body has established a purchasing agent, enabling them to delegate awarding smaller contracts directly to that agent. The bill also updates inflation adjustment rules for future threshold increases.