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Relating to performance and payment bonds for public work contracts on public property leased to a nongovernmental entity.
No significant fiscal implication to the State is anticipated.
HB 1477 would require a private entity which leases public property and elects to build improvements on the property to apply the standards of a public work project, with regards to performance and payment bonds, to the improvement project.
As HB 1477 does not pertain to the liberty principles, Texas Action is neutral on this bill.