Bill Title: Performance bonds of land developers. Prohibits a unit of local government from adopting or enforcing an ordinance, rule, or other policy requiring a land developer of Class 1 or Class 2 structures to do the following: (1) With certain exceptions, obtain a performance bond or other surety before an approved secondary subdivision plat is recorded. (2) Obtain a maintenance bond that has an effective period of greater than three years. Authorizes a unit of local government to require the land developer, as a condition precedent to recording the secondary plat, to obtain a performance bond or other surety for incomplete

Spectrum: Partisan Bill (Republican 4-0)

Status: (Passed) 2015-04-30 - Public Law 105 [HB1508 Detail]

Text: Latest bill text (Enrolled) [PDF]

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