Bill Title: Amends the Public Construction Bond Act. Provides that public construction bonds are required only for those public work construction contracts that are valued over $5,000,000. Authorizes any official, board, commission, agent of the State, or any political subdivision of the State to create a self-insured risk pool for contracts of $5,000,000 or less. Defines "self insured risk pool".

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced) 2023-04-17 - Added as Co-Sponsor Sen. Cristina Castro [SB0157 Detail]

Text: Latest bill text (Introduced) [HTML]

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