(a) Notwithstanding this article, a state educational institution may award a contract for any construction or repair work to any building, structure, or improvement of the institution without advertising for bids and meeting other contract awarding requirements of this article whenever the estimated cost of the project is less than three hundred thousand dollars ($300,000). However, in awarding any contract under this section the state educational institution must do the following:

1. (1) Invite quotes from at least three (3) persons, firms, limited liability companies, or corporations known to deal in the work required to be done.
2. (2) Give notice of the project if the estimated cost of the project is more than three hundred thousand dollars ($300,000). If required, notice must include a description of the work to be done and be given in at least one (1) newspaper of general circulation printed and published in the county in which the work is to be done.
3. (3) Award the contract to the person who submits the lowest and best quote.

(b) A state educational institution that awards a contract under this section to a minority business enterprise may include the contract when assessing the state educational institution's performance in meeting the goal set under section 7 of this chapter.

As added by Acts 1981, P.L.58, SEC.1. Amended by P.L.52-1986, SEC.4; P.L.70-1989, SEC.1; P.L.8-1993, SEC.61; P.L.2-2007, SEC.103; P.L.229-2011, SEC.79; P.L.172-2011, SEC.21; P.L.143-2014, SEC.3; P.L.236-2023, SEC.10.