Introduced Version






HOUSE BILL No. 1325

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DIGEST OF INTRODUCED BILL



Citations Affected: IC 22-11-3.1-2.

Synopsis: Contractor performance bonds. Increases from $5,000 to $30,000 the amount of a unified license bond for contractors doing work in counties where the bond is required.

Effective: July 1, 2008.





Candelaria Reardon




    January 15, 2008, read first time and referred to Committee on Labor and Employment.







Introduced

Second Regular Session 115th General Assembly (2008)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
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HOUSE BILL No. 1325



    A BILL FOR AN ACT to amend the Indiana Code concerning state and local administration.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 22-11-3.1-2; (08)IN1325.1.1. -->     SECTION 1. IC 22-11-3.1-2 IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2008]: Sec. 2. (a) A contractor doing work, other than work for a political subdivision, in a county having a population of:
        (1) more than four hundred thousand (400,000), but less than seven hundred thousand (700,000); or
        (2) more than one hundred forty-five thousand (145,000) but less than one hundred forty-eight thousand (148,000);
must obtain a unified license bond as provided in this chapter. This unified license bond is in lieu of any other bond for this type of work required by the county or a city or town within that county, and the bond must be in an amount equal to five thirty thousand dollars ($5,000). ($30,000).
    (b) The unified license bond shall be held for compliance with the ordinances and regulations governing business in the county, or a city or town within that county. The unified license bond required by this chapter shall be filed with the county recorder.