House Sponsors: SCHMITZ, MCCARTHY AND BERNS. Senate Sponsors: O'MALLEY Short description: LOCAL GOV-CONSTRUCT BONDS Synopsis of Bill as introduced: Amends the Public Construction Bond Act, the Counties Code, and the Illinois Municipal Code. Provides that a builder or developer may not be required by a county or municipality to post an irrevocable letter of credit, surety bond, or letter of commitment by a bank to guarantee a project's completion if the developer or builder already has such a bond on file with the county or municipality. Requires counties and municipalities to accept surety instruments from a surety or insurance company authorized by the Department of Insurance to sell sureties in Illinois. Preempts home rule. SENATE AMENDMENT NO. 1. Further amends the Public Construction Bond Act and the Illinois Municipal Code. Exempts a municipality with a population of 1,000,000 or more from the requirement that a municipality must approve and deem good and sufficient a surety or insurance company authorized by the Department of Insurance to sell and issue sureties in Illinois. SENATE AMENDMENT NO. 3. Further amends the Public Construction Bond Act and the Illinois Municipal Code. Exempts a municipality or county (instead of only a municipality) with a population of 1,000,000 or more from the requirement that a municipality must approve and deem good and sufficient a surety or insurance company authorized by the Department of Insurance to sell and issue sureties in Illinois. Last action on Bill: PUBLIC ACT.............................. 92-0479 Last action date: AUG-23-2001 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 2 END OF INQUIRY Full Text Bill Status