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SB19-138

Bond Requirements For Public Projects Using Private Financing

Concerning bonding requirements for contractors that are a party to certain public-private initiatives.
Session:
2019 Regular Session
Subjects:
Local Government
State Government
Bill Summary

Under current law, when a person, company, firm, corporation, or contractor (contractor) enters into a contract with a county, municipality, school district, or, in some instances, any other political subdivision of the state to perform work in connection with a project that has specified characteristics, the contractor is required to execute performance bonds and payment bonds.

The bill specifies that some of these bonding requirements apply to certain construction contracts situated or located on publicly owned property using public or private money or public or private financing.


(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

Status

Introduced
Passed
Became Law

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