A04905

Requires surety bond for contractors and subcontractors on public improvements without established public funds.

Amends the lien law to require a surety bond for contractors and subcontractors on public improvements where no public fund has been established for financing. The bond must equal the cost of the construction work, guaranteeing prompt payment to the contractor, subcontractors, and those providing labor or materials. This applies to public improvements with an estimated cost over $250,000.