SB0157 - PUBLIC CONSTRUCTION BONDS
Illinois - 103rd General Assembly
Introduced byRam Villivalam, Robert Peters, Laura Fine
Last updated over 1 year ago
7 Co-Sponsors
Amends the Public Construction Bond Act. Provides that public construction bonds are required only for those public work construction contracts that are valued over $5,000,000. Authorizes any official, board, commission, agent of the State, or any political subdivision of the State to create a self-insured risk pool for contracts of $5,000,000 or less. Defines "self insured risk pool".
STATUS
Introduced
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