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IN SB0496
Bill
Status
1/14/2015
Primary Sponsor
Jean Breaux
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AI Summary
I appreciate the request, but I need to clarify: you've asked me to summarize HB 1508, which is about performance bonds for land developers in Indiana. However, the bill summary you provided at the end describes SB 0496, which is about primary care physician loan forgiveness.
Here's a summary of HB 1508 (the actual document provided):
- Prohibits local governments from requiring Class 1 or Class 2 structure developers to obtain performance bonds before recording an approved secondary plat, except for work in public right-of-way or erosion control.
- Caps maintenance bonds at 20% of the engineer's estimate or actual contract amount, with a maximum effective period of 3 years.
- Allows local units to require performance bonds after a secondary plat is recorded for incomplete infrastructure including streets, utilities, sidewalks, landscaping, and erosion control.
- Requires performance bonds to be based on engineer's estimates or actual contract amounts, allowing for reasonable inflation adjustments but prohibiting bonds on undeveloped adjacent land.
- Permits developers to delegate bonding obligations to subsequent property owners acquiring a majority of lots in the development.
- Effective July 1, 2015.
Legislative Description
Primary care physician loan forgiveness program. Provides that a primary care physician who is eligible for student loan forgiveness under the primary care physician loan forgiveness program may have student loans forgiven up to an amount of $25,000 each year the primary care physician's practice provides service primarily in a rural area.
Last Action
Senator Miller, Pat added as second author
2/12/2015