|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
S.B. 324
|
|
VETOES
|
|
|
|
|
|
|
|
|
|
|
|
|
FOR the purpose of specifying that a procurement officer may require the
subcontractor of a contractor to provide certain security on certain procurement
contracts; specifying the manner in which a subcontractor may satisfy the
security requirement; requiring each subcontractor of a contractor, before a
public body awards to the contractor a construction contract in excess of a
certain amount of money, to provide payment security and performance security
that meet certain requirements altering the amount of the dollar value
threshold for which a procurement officer may require certain contractors to
provide payment security and performance security on certain contracts;
requiring the Department of General Services to report to certain committees of
the General Assembly on or before a certain date; and generally relating to
payment security and performance security on procurement contracts by
subcontractors.
BY repealing and reenacting, with amendments,
Article - State Finance and Procurement
Section 13-216 and 17 103
Annotated Code of Maryland
(2001 Replacement Volume and 2004 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - State Finance and Procurement
13-216.
(a) Except as provided in subsection (b) of this section, a procurement officer
may not require a contractor to provide a performance bond, payment bond, or other
security on a procurement contract for construction, construction related services,
services, or supplies if the price of the procurement contract is $100,000 $400,000
$200,000 or less.
(b) A procurement officer shall require a contractor to provide a performance
bond, payment bond, or other security if federal law or a condition of federal
assistance requires the security.
(c) If the price of a procurement contract for construction exceeds $100,000
$400,000 $200,000, a procurement officer shall require a contractor to provide security
as required under Title 17, Subtitle 1 of this article.
(d) (1) A procurement officer may require a contractor; AND EACH
SUBCONTRACTOR OF THE CONTRACTOR, to provide a performance bond or other
security on a procurement contract for supplies, services, or construction related
services if:
[(1)] (I) circumstances warrant security; and
[(2)] (II) the price of the procurement contract exceeds $100,000 $400,000
$200,000.
- 3594 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
