PUB CONST BOND-DEFAULT Senate SponsorsSen. Carol Ronen and Pamela J. Althoff House Sponsors(Rep. Kurt M. Granberg) 1/9/2007SenateSession Sine Die 30 ILCS 550/1from Ch. 29, par. 15Amends the Public Construction Bond Act. With respect to bonds securing contracts between the Capital Development Board or a public institution of higher education and a contractor, requires that within 15 days after notice to the surety that the principal is in default, the surety must (i) complete the work using a contractor selected jointly with the obligee or (ii) provide the obligee the amount needed to complete the work, in excess of the unpaid contract balance and up to the penal sum of the bond. Effective immediately. 2/25/2005SenateFiled with Secretary by Sen. Carol Ronen 2/25/2005SenateFirst Reading 2/25/2005SenateReferred to Rules 3/2/2005SenateAssigned to State Government 3/16/2005SenateAdded as Co-Sponsor Sen. Pamela J. Althoff 3/17/2005SenateDo Pass State Government; 007-000-000 3/17/2005SenatePlaced on Calendar Order of 2nd Reading April 6, 2005 4/11/2005SenateSecond Reading 4/11/2005SenatePlaced on Calendar Order of 3rd Reading April 12, 2005 4/14/2005SenateThird Reading - Passed; 057-001-000 4/14/2005HouseArrived in House 4/14/2005HousePlaced on Calendar Order of First Reading 4/15/2005HouseChief House Sponsor Rep. Kurt M. Granberg 4/15/2005HouseFirst Reading 4/15/2005HouseReferred to Rules Committee 4/20/2005HouseAssigned to Executive Committee 5/13/2005HouseRule 19(a) / Re-referred to Rules Committee 1/9/2007SenateSession Sine Die