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OK SB1606
Bill
AI Summary
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Amends the Public Competitive Bidding Act of 1974 (61 O.S. 2001, Section 113) to increase the contract threshold requiring bonds or letters of credit from $50,000 to $100,000.
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Contractors awarded public construction contracts exceeding $100,000 must provide performance bonds, payment bonds, and public liability/workers' compensation insurance to the awarding public agency.
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The bill passed the Oklahoma Senate on March 1, 2010, and has an effective date of November 1, 2010.
Legislative Description
Public buildings and public works; relating to the Public Competitive Bidding act of 1974; modifying certain amount. Effective date.
Government
Last Action
HAs read
4/21/2010
Committee Referrals
Government Modernization3/16/2010
General Government2/2/2010
Full Bill Text
No bill text available