Revision: July 20, 2017, 10:26 a.m.
CHAPTER 242
HB 371-LOCAL - FINAL VERSION
8Mar2017... 0418h
04/20/2017 1368s
22Jun2017... 2367CofC
2017 SESSION
17-0729
05/08
HOUSE BILL 371-LOCAL
AN ACT relative to bond requirements for public works contracts.
SPONSORS: Rep. Danielson, Hills. 7
COMMITTEE: Public Works and Highways
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This bill increases the bond requirement for public works contracts entered into in behalf of the state and political subdivisions.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
8Mar2017... 0418h
04/20/2017 1368s
22Jun2017... 2367-CofC 17-0729
05/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Seventeen
AN ACT relative to bond requirements for public works contracts.
Be it Enacted by the Senate and House of Representatives in General Court convened:
242:1 Liens for Labor and Materials; Public Works; Bond Required. Amend RSA 447:16 to read as follows:
447:16 Bond Required. Officers, public boards, agents or other persons who contract in behalf of the state or any political subdivision thereof for the construction, repair or rebuilding of public buildings, public highways, bridges or other public works shall if said contract involves an expenditure of [$35,000] $75,000 in behalf of the state or $125,000 in behalf of a political subdivision, and may if it involves an expenditure of less amount, obtain as a condition precedent to the execution of the contract, sufficient security, by bond or otherwise, in an amount equal to at least 100 percent of the contract price, or of the estimated cost of the work if no aggregate price is agreed upon, conditioned upon the payment by the contractors and subcontractors for all labor performed or furnished, for all equipment hired, including trucks, for all material used and for fuels, lubricants, power, tools, hardware and supplies purchased by said principal and used in carrying out said contract, and for labor and parts furnished upon the order of said contractor for the repair of equipment used in carrying out said contract.
242:2 Effective Date. This act shall take effect 60 days after its passage.
Approved: July 18, 2017
Effective Date: September 16, 2017