HB 693 - Construction Bonds Summary

• Requires contractors on public works projects to record payment bonds in public records and include the bond number on the first page of the bond.

• Prohibits building permit authorities and private inspectors from inspecting property improvements until a recorded payment bond or exemption statement is filed.

• Requires contractors to provide property owners with a signed "General Statement of Owner's Rights and Responsibilities Under Florida's Construction Lien Law" that must be submitted with building permit applications.

• Eliminates payment bond requirements for state contracts of $100,000 or less and allows counties, municipalities, and state agencies to exempt contracts of $200,000 or less from bonding requirements.

• Establishes prerequisites for inspections including filing notice of commencement, payment bond documentation, and the owner's rights statement, with exceptions for temporary utility work, preliminary site work, and small contracts under $5,000-$7,500.