Summary of Bill S 2928
Bill 118 s 2928, also known as the Water Infrastructure Subcontractor and Taxpayer Protection Act of 2023, aims to address issues related to subcontractors working on water infrastructure projects and protect taxpayers from potential financial risks.
The bill requires prime contractors on water infrastructure projects to provide payment bonds to ensure that subcontractors are paid for their work. This is intended to prevent subcontractors from being left unpaid if the prime contractor fails to fulfill their financial obligations.
Additionally, the bill includes provisions to increase transparency and accountability in the bidding process for water infrastructure projects. It requires prime contractors to disclose information about subcontractors and their payment history, as well as any potential conflicts of interest.
Furthermore, the bill establishes a process for resolving disputes between prime contractors and subcontractors, in order to prevent delays and cost overruns on water infrastructure projects. This is intended to ensure that projects are completed in a timely and efficient manner, while also protecting taxpayers from unnecessary financial burdens.
Overall, the Water Infrastructure Subcontractor and Taxpayer Protection Act of 2023 seeks to improve the integrity and efficiency of water infrastructure projects, while also safeguarding the interests of subcontractors and taxpayers.