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Senate keeps $50,000 minimum performance bond threshold after amendment fails
Summary
The Senate considered HB219 on March 2, 2004, which raises minimum construction performance bond thresholds from $2,000 to $50,000. An amendment to reduce the threshold to $25,000 failed after debate about balancing contractor access and project protections; the Senate passed the bill largely as presented.
On March 2, 2004, the Utah Senate debated House Bill 219, which proposes raising the minimum required construction performance bond from $2,000 to $50,000 to better reflect modern project costs.
Sponsor Senator Wright argued $50,000 is an appropriate level that aligns bonding requirements with the scale of contemporary construction projects and avoids accidentally capturing very small, informal jobs: "I think…
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