Requires surety to take certain actions after assuming responsibility for completion of transportation project.

S 1639 requires financial guarantors (sureties) to act within 60 days when they take over responsibility for completing a transportation project, such as roads or bridges. Specifically, sureties must enter a contract with a contractor within 60 days and ensure construction begins or resumes within another 60 days after that contract is signed. For projects already under surety oversight when the law takes effect, the deadlines adjust based on whether a contract exists or work has already started. Violations carry daily penalties of at least $10,000 per day of non-compliance. The bill directly affects sureties and contractors managing state transportation projects.