Bill Status of HB6095 96th General Assembly
Short Description: PUBLIC CONSTRUCTION BONDS
Rep. Linda Chapa LaVia
| 1/11/2011||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Public Construction Bond Act concerning a cash bond or other surety from a builder or developer. Allows a county or municipality to require a cash bond or other surety (instead of the county or municipality being required to accept a letter of credit or other instrument issued by a financial institution). Eliminates a procedure whereby an engineer or architect may certify completion of a project and 60 days after notice the county or municipality must pay interest on any unrefunded bond. Eliminates the preemption of home rule powers. Effective immediately.