Bill
Bill > H2773
MA H2773
Relative to default insurance programs for certain public construction projects
summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to default insurance programs for certain public construction projects. State Administration and Regulatory Oversight.
AI Summary
This bill amends Section 8(a) of Chapter 149A of the Massachusetts General Laws to allow construction management at risk firms to obtain a subcontractor default insurance policy in lieu of payment and performance bonds for some or all trade contractors on certain public construction projects. The intention to use a subcontractor default insurance policy must be made known after the receipt of trade contractor bids, and any trade contractors not covered by the insurance policy must still submit a payment and performance bond. Trade contractor bidders must include anticipated bonding costs in their bids, and those included in the insurance program must provide a credit equivalent to those costs to the construction manager at risk firm.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Accompanied a study order, see H5103 (on 11/06/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://malegislature.gov/Bills/191/H2773 |
Bill | https://malegislature.gov/Bills/191/H2773.pdf |
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