Illinois General Assembly - Full Text of SB1382
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Full Text of SB1382  97th General Assembly

SB1382 97TH GENERAL ASSEMBLY

  
  

 


 
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

 

SB1382LRB097 06732 PJG 46820 b

1    AN ACT concerning finance.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Public Construction Bond Act is amended by
5adding Section 4 as follows:
 
6    (30 ILCS 550/4 new)
7    Sec. 4. Subcontractor bond. A contractor who has entered
8into a contract for public work of any kind for the State or
9for a political subdivision of the State may not require a
10person furnishing material or performing labor as a
11subcontractor on the contract to post a bond to guarantee the
12subcontractor's completion of a project or to pay for a share
13of a bond required under this Act.
 
14    Section 99. Effective date. This Act takes effect upon
15becoming law.