Loading chat...

CT SB01135

Bill

Status

Introduced

2/24/2023

Primary Sponsor

Planning and Development Committee

Click for details

Origin

Senate

2023 General Assembly

AI Summary

  • Contracts exceeding $100,000 for construction, alteration, or repair of public buildings or works must include a performance bond provision effective July 1, 2023.

  • Performance bonds are not required for general bids or sub-bids with estimated labor and materials costs below $100,000.

  • Performance bonds are not required for bids submitted by consultants as defined in section 4b-55.

  • Municipalities may vote to waive performance bond requirements for contracts valued below $5 million pertaining to public building or public work construction, alteration, or repair.

  • Any performance bond furnished must identify the contract awardee as principal.

Legislative Description

An Act Authorizing The Waiver Of Certain Performance Bond Requirements.

Last Action

Public Hearing 03/10

3/6/2023

Committee Referrals

Planning and Development2/24/2023

Full Bill Text

No bill text available