Bill Text: IL SB1382 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the Public Construction Bond Act. Provides that a contractor who has entered into a contract for public work for the State or a political subdivision of the State may not require a subcontractor to post a bond to guarantee completion of a project or to pay a share of any bond that the contractor is required to furnish. Effective immediately.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Failed) 2013-01-08 - Session Sine Die [SB1382 Detail]

Download: Illinois-2011-SB1382-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 SB1382 Introduced 2/9/2011, by Sen. Martin A. Sandoval SYNOPSIS AS INTRODUCED:
30 ILCS 550/4 new
Amends the Public Construction Bond Act. Provides that a contractor who has entered into a contract for public work for the State or a political subdivision of the State may not require a subcontractor to post a bond to guarantee completion of a project or to pay a share of any bond that the contractor is required to furnish. Effective immediately.
LRB097 06732 PJG 46820 b
FISCAL NOTE ACT MAY APPLY
A BILL FOR
SB1382 LRB097 06732 PJG 46820 b
AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Public Construction Bond Act is amended by
adding Section 4 as follows:
(30 ILCS 550/4 new)
Sec. 4. Subcontractor bond. A contractor who has entered
into a contract for public work of any kind for the State or
for a political subdivision of the State may not require a
person furnishing material or performing labor as a
subcontractor on the contract to post a bond to guarantee the
subcontractor's completion of a project or to pay for a share
of a bond required under this Act.
Section 99. Effective date. This Act takes effect upon
becoming law.