S.1639

New Jersey S1639 mandates actions for sureties assuming responsibility for transportation project completion.

New Jersey S1639 requires a surety to enter into a contract with a contractor for a transportation project within 60 days of assuming responsibility and to ensure the contractor begins or resumes construction within 60 days of contract execution. If the surety has not yet contracted on the bill's enactment date, they must do so within 60 days of enactment and ensure construction starts within 60 days of contract execution. The requirements do not apply if the contractor has already started or resumed construction by the bill's effective date.