Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board hears bill that would allow surety bonds in place of financials, and end Go Build funding requirement
Summary
Board staff told members of a pending bill that would let contractors provide surety bonds worth at least 50% of a requested monetary limit instead of audited financial statements, and would remove the board's obligation to fund Go Build; members pressed staff on timing and the potential impact on Go Build's funding.
Board staff briefed the Tennessee Board for Licensing Contractors on a bill moving through the legislature that would change how monetary limits are demonstrated and remove a statutory obligation to fund an external nonprofit.
Kyle (staff) told the board the draft would "allow licensed contractors to obtain surety bonds in lieu of providing…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
