HB 314, HCA 1 -- PUBLIC WORKS BONDS

SPONSOR:  Engler

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Financial Services by a vote of 19 to 0.

This bill prohibits public entities and persons acting on behalf
of public entities from requiring bidders and contractors on
public works construction projects to obtain surety bonds from
specific insurance or surety companies.

HCA 1 -- Corrects section reference.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that the bill fosters open
competition in the bonding of public projects.  No specific
bonding entity should receive preferential treatment.

Testifying for the bill were Representative Engler; Independent
Insurance Agents and Brokers of Missouri; American Insurance
Association; Associated General Contractors of Missouri; and
National Association of Surety Bond Producers.

OPPONENTS:  There was no opposition voiced to the committee.

Richard Smreker, Senior Legislative Analyst

Missouri House of Representatives
Last Updated July 25, 2003 at 10:11 am