Introduced House Bill (H)

Authored by

DIGEST

Performance bond for a demolition contractor. Provides that if a contractor enters into a public work contract with a political subdivision under which the contractor is to demolish a building and remove the demolition debris, the contractor is required to furnish a performance bond equal to the contract price plus, if applicable, a reasonable estimate of the value of any salvage materials to which the contractor will be entitled, regardless of the amount to be paid to the contractor under the contract. Performance bond for a demolition contractor. Provides that if a contractor enters into a public work contract with a political subdivision under which the contractor is to demolish a building and remove the demolition debris, the contractor is required to furnish a performance bond equal to the contract price plus, if applicable, a reasonable estimate of the value of any salvage materials to which the contractor will be entitled, regardless of the amount to be paid to the contractor under the contract.