Relating to submitting surety bonds in lieu of retainage; declaring an emergency.

Digest: Requires state agencies to accept surety bonds from people who perform construction work for the state, instead of holding onto some of the money the agencies owe for the work, in order to make sure the work is done correctly. Gives a form for the surety bond. (Flesch Readability Score: 60.5). Requires a contracting agency to accept from contractors surety bonds in lieu of retainage for construction projects and public improvement contracts. Specifies requirements for submitting surety bonds. Specifies relations between a contractor and a subcontractor when the contractor submits a surety bond on behalf of the subcontractor. Declares an emergency, effective on passage.