Bill Status of HB 4769   98th General Assembly

Short Description:  PUB CONSTRUCTION BOND-SURETY

House Sponsors
Rep. Daniel V. Beiser and John M. Cabello

Senate Sponsors
(Sen. William R. Haine)


Last Action  View All Actions

DateChamber Action
  8/22/2014HousePublic Act . . . . . . . . . 98-1018

Statutes Amended In Order of Appearance
30 ILCS 550/1from Ch. 29, par. 15

Synopsis As Introduced
Amends the Public Construction Bond Act. Provides that the surety on a bond shall be a company with a certificate of authority from the Department of Insurance specifically authorizing it to execute surety bonds and a financial strength rating of at least A as rated by A.M. Best or a similar rating agency. Effective immediately.

House Committee Amendment No. 1
Replaces everything after the enacting clause. Amends the Public Construction Bond Act. Provides that the surety on a bond shall be a company with a certificate of authority from the Department of Insurance specifically authorizing it to execute surety bonds and a financial strength rating of at least A- (rather than a financial strength rating of at least A) as rated by A.M. Best or a similar rating agency. Effective immediately.

House Floor Amendment No. 2
Provides that the surety shall have a financial strength rating of at least A- as rated by A.M. Best Company, Inc., Moody's Investors Service, Standard & Poor's Corporation, or a similar rating agency (in House Amendment 1, A.M. Best or a similar rating agency).

Actions 
DateChamber Action
  2/5/2014HouseFiled with the Clerk by Rep. Daniel V. Beiser
  2/7/2014HouseFirst Reading
  2/7/2014HouseReferred to Rules Committee
  2/19/2014HouseAdded Co-Sponsor Rep. John M. Cabello
  2/27/2014HouseAssigned to State Government Administration Committee
  2/28/2014HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Daniel V. Beiser
  2/28/2014HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/13/2014HouseHouse Committee Amendment No. 1 Rules Refers to State Government Administration Committee
  3/20/2014HouseHouse Committee Amendment No. 1 Adopted in State Government Administration Committee; by Voice Vote
  3/20/2014HouseDo Pass as Amended / Short Debate State Government Administration Committee; 018-000-000
  3/21/2014HousePlaced on Calendar 2nd Reading - Short Debate
  3/24/2014HouseSecond Reading - Short Debate
  3/24/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/25/2014HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Daniel V. Beiser
  3/25/2014HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  3/26/2014HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000
  4/3/2014HouseRecalled to Second Reading - Short Debate
  4/3/2014HouseHouse Floor Amendment No. 2 Adopted
  4/3/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/4/2014HouseThird Reading - Short Debate - Passed 109-000-000
  4/7/2014SenateArrive in Senate
  4/7/2014SenatePlaced on Calendar Order of First Reading April 8, 2014
  4/8/2014SenateChief Senate Sponsor Sen. William R. Haine
  4/8/2014SenateFirst Reading
  4/8/2014SenateReferred to Assignments
  5/1/2014SenateAssigned to State Government and Veterans Affairs
  5/8/2014SenateDo Pass State Government and Veterans Affairs; 008-000-000
  5/8/2014SenatePlaced on Calendar Order of 2nd Reading May 12, 2014
  5/15/2014SenateSecond Reading
  5/15/2014SenatePlaced on Calendar Order of 3rd Reading May 19, 2014
  5/23/2014SenateRule 2-10 Committee/3rd Reading Deadline Established As May 31, 2014
  5/30/2014SenateThird Reading - Passed; 057-000-000
  5/30/2014HousePassed Both Houses
  6/27/2014HouseSent to the Governor
  8/22/2014HouseGovernor Approved
  8/22/2014HouseEffective Date August 22, 2014
  8/22/2014HousePublic Act . . . . . . . . . 98-1018

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