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IN HB1266
Bill
Status
1/10/2017
Primary Sponsor
Doug Gutwein
Click for details
AI Summary
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Amends Indiana Code to require performance bonds equal to the cost to design and construct public facilities in build-operate-transfer (BOT) agreements entered after July 1, 2017.
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Requires payment bonds conditioned on payment for labor and material furnished in construction for public-private agreements entered after June 30, 2017.
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Modifies the definition of "public funds" to exclude money paid to persons managing or operating public facilities under authorized operating agreements.
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Applies bond requirements to three types of public-private agreements: BOT agreements under IC 5-23-3-2, toll road agreements under IC 8-15.5-5-2, and rail agreements under IC 8-15.7-5-1.5.
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Effective July 1, 2017.
Legislative Description
Performance and payment bonds. Requires that public-private agreements must contain performance bond and payment bond requirements.
Last Action
First reading: referred to Committee on Government and Regulatory Reform
1/10/2017