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Enrolled House Bill (H)

DIGEST

Performance and payment bonds. Provides that for public-private BOT agreements, public-private agreements for toll road projects, and public-private partnership agreements for transportation projects entered into after June 30, 2019, a performance bond must be for not less than 50% of the cost to design and construct the project and a payment bond must be for not less than 100% of the cost to design and construct the project. Performance and payment bonds. Provides that for public-private BOT agreements, public-private agreements for toll road projects, and public-private partnership agreements for transportation projects entered into after June 30, 2019, a performance bond must be for not less than 50% of the cost to design and construct the project and a payment bond must be for not less than 100% of the cost to design and construct the project.