Bill Title: Amends the Public Construction Bond Act, the Counties Code, and the Illinois Municipal Code. Allows a county or municipality to require an irrevocable letter of credit, surety bond, or letter of commitment issued by a bank, savings and loan association, surety, or insurance company from a builder or developer to guarantee completion of a project improvement. Eliminates the preemption of home rule powers.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-04-23 - Third Reading - Short Debate - Lost 045-062-000 [HB4531 Detail]

Text: Latest bill text (Engrossed) [HTML]

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