PUBLIC CONSTRUCTION BOND ACT Senate SponsorsSen. Jeffrey M. Schoenberg House Sponsors(Rep. Edward J. Acevedo) 7/18/2003SenatePublic Act . . . . . . . . . 93-0221 30 ILCS 550/1from Ch. 29, par. 15Amends the Public Construction Bond Act. Provides that a contractor shall not be required to post a cash bond or a letter of credit in addition to or as a substitute for the bond required of every contractor performing public work costing over $5,000.Fiscal Note (Capital Development Board) In the opinion of the Capital Development Board, this bill results in no fiscal impact to the State. CDB currently requires a surety bond on construction contracts.House Amendment No. 1 Provides that provisions that a contractor shall not be required to post the cash bond or letter of credit applies only to State construction contracts. 2/20/2003SenateFiled with Secretary by Sen. Jeffrey M. Schoenberg 2/20/2003SenateFirst Reading 2/20/2003SenateReferred to Rules 2/27/2003SenateAssigned to State Government 3/13/2003SenateDo Pass State Government; 009-000-000 3/13/2003SenatePlaced on Calendar Order of 2nd Reading March 18, 2003 3/18/2003SenateFiscal Note Requested by Sen. Dale E. Risinger 3/24/2003SenateFiscal Note Filed 3/25/2003SenateSecond Reading 3/25/2003SenatePlaced on Calendar Order of 3rd Reading March 26, 2003 3/26/2003SenateThird Reading - Passed; 057-000-000 3/26/2003HouseArrived in House 3/26/2003HousePlaced on Calendar Order of First Reading 4/4/2003HouseChief House Sponsor Rep. Edward J. Acevedo 4/4/2003HouseFirst Reading 4/4/2003HouseReferred to Rules Committee 5/5/2003HouseCommittee/3rd Reading Deadline Extended-Rule 9(b); May 31, 2003 5/5/2003HouseAssigned to State Government Administration Committee 5/15/2003HouseDo Pass / Short Debate State Government Administration Committee; 011-000-000 5/15/2003HousePlaced on Calendar 2nd Reading - Short Debate 5/15/2003HouseHouse Amendment No. 1 Filed with Clerk by Rep. Edward J. Acevedo 5/15/2003HouseHouse Amendment No. 1 Referred to Rules Committee 5/16/2003HouseHouse Amendment No. 1 Recommends Be Adopted Rules Committee; 003-000-000 5/23/2003HouseThird Reading/Final Action Deadline Extended-9(b) May 31, 2003 5/27/2003HouseSecond Reading - Short Debate 5/27/2003HouseHouse Amendment No. 1 Adopted by Voice Vote 5/27/2003HousePlaced on Calendar Order of 3rd Reading - Short Debate 5/28/2003HouseThird Reading - Short Debate - Passed 115-001-000 5/28/2003SenateSecretary's Desk - Concurrence House Amendment(s) 01 5/28/2003SenatePlaced on Calendar Order of Concurrence House Amendment(s) 01 - May 29, 2003. 5/29/2003SenateHouse Amendment No. 1 Motion to Concur Filed with Secretary Sen. Jeffrey M. Schoenberg 5/29/2003SenateHouse Amendment No. 1 Motion to Concur Referred to Rules 5/30/2003SenateHouse Amendment No. 1 Motion to Concur Rules Referred to State Government 5/30/2003SenateHouse Amendment No. 1 Motion to Concur Be Adopted State Government; 006-000-000 5/30/2003SenateHouse Amendment No. 1 Senate Concurs 059-000-000 5/30/2003SenatePassed Both Houses 6/27/2003SenateSent to the Governor 7/18/2003SenateGovernor Approved 7/18/2003SenateEffective Date January 1, 2004 7/18/2003SenatePublic Act . . . . . . . . . 93-0221