PUBLIC CONSTRUCTION BONDS
Summary
Amends the Public Construction Bond Act concerning a cash bond or other surety from a builder or developer. Allows a county or municipality to require a cash bond or other surety (instead of requiring the county or municipality to accept a letter of credit or other instrument issued by a financial institution). Eliminates a procedure allowing an engineer or architect to certify completion of a project and requiring the county or municipality to pay interest on any unrefunded bond beginning 60 days after written notification of completion. Eliminates the preemption of home rule powers. Effective immediately.
Bill status
failed
1 of 4 stages cleared
Introduction
Jan 2011
Committee Review
Floor Vote
Governor
Introduced Jan 25, 2011
Last action Jan 8, 2013
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
6
Key actions
0
Committee
3
Jan 8, 2013
House · Failed
Session Sine Die
Mar 17, 2011
House · Referred to committee
Rule 19(a) / Re-referred to Rules Committee
Feb 8, 2011
House · Referred to committee
Assigned to Cities & Villages Committee
Jan 25, 2011
House · Referred to committee
Referred to Rules Committee
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Linda Chapa LaVia
DDemocratic
Ask Maddy
·
AI policy assistant
Ask Maddy about HB 262
Scope: IL
Hi! I can help you understand HB 262. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline