92nd General Assembly Summary of SB1882    [ Home ]   [ Back ]   [ Legislation ]

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Senate Sponsors:
SYVERSON.

House Sponsors:
SCHOENBERG-POE

Short description: 
PUB CONSTRUCTION BOND-TYPE                                                 

Synopsis of Bill as introduced:
        Amends the Public Construction Bond Act.  Permits the  contractor      
   to meet the Act's bond requirement with a cash bond, letter of credit,      
   or surety bond.                                                             
        SENATE AMENDMENT NO. 1. (Tabled April 4, 2002)                         
        Further amends the Public Construction  Bond  Act.   Deletes  the      
   bill's changes.  Provides that unless otherwise required by the Act, a      
   contractor  may  not  be  required to provide a cash bond or letter of      
   credit in place of or in addition to the required surety bond.              
        SENATE AMENDMENT NO. 2.                                                
        Further amends the Public Construction  Bond  Act.                     
   Removes the bill's  changes.   Provides  that  a  contractor  may           
   choose among a cash bond, letter of credit, and surety bond in meeting      
   the  bond  requirement,  except  in  a  political  subdivision  with a      
   population of more than 1,000,000.                                          
 
Last action on Bill: SESSION SINE DIE

   Last action date: JAN-07-2003

           Location: Senate

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   1


   END OF INQUIRY 


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