O'MALLEY. 30 ILCS 550/3 55 ILCS 5/5-1123 65 ILCS 5/11-39-3 Amends the Public Construction Bond Act, the Counties Code, and the Illinois Municipal Code. Provides that a county or municipality may not require a cash bond from a builder or developer to guarantee completion of a project improvement when the builder or developer has filed an irrevocable letter of credit or other commercially reasonable security substitute with the county or municipal clerk (now, an irrevocable letter of credit). Effective immediately. 97-02-07 S FIRST READING 97-02-07 S REFERRED TO SENATE RULES COMMITTEE RULES 97-02-19 S ASSIGNED TO COMMITTEE LOC GOV & ELE 97-03-05 S HELD IN COMMITTEE 97-03-11 S POSTPONED 97-03-11 S COMMITTEE LOC GOV & ELE 97-03-15 S RE-REFERRED TO RULES COMM/RULE 3-9(A) RULES 99-01-12 S SESSION SINE DIE END OF INQUIRY Full Text Bill Summary