House Bill 310 Summary

• Shifts selection authority for performance guarantee types from developers to local governments for subdivision improvement projects.

• Performance guarantees may take the form of surety bonds, letters of credit, or other equivalent security, with the local government choosing which type to require.

• Performance guarantee amount cannot exceed 125% of reasonably estimated completion costs, including 100% of labor and materials plus 25% for inflation and administrative costs.

• Requires developers to demonstrate reasonable, good-faith progress toward completion; if improvements are not completed before guarantee expiration, extensions must be issued for only the duration necessary to complete work.

• Effective upon enactment and applies to all approvals occurring on or after the bill becomes law.