PLANNING &AMP ZONING-DOT/PERFORMANCE GUARANTEES.

View NCGA Bill Details2021
House Bill 720 (Public) Filed Wednesday, April 28, 2021
AN ACT TO REQUIRE ACCEPTANCE OF A TRANSPORTATION IMPROVEMENT BY THE DEPARTMENT OF TRANSPORTATION BEFORE A PERFORMANCE GUARANTEE REQUIRED BY A LOCAL GOVERNMENT IS RELEASED.
Intro. by Majeed, K. Smith, Hawkins, Belk.

Status: Ref to the Com on Local Government - Land Use, Planning and Development, if favorable, Transportation, if favorable, State Government, if favorable, Rules, Calendar, and Operations of the House (House action) (Apr 29 2021)
H 720

Bill Summaries:

  • Summary date: Apr 28 2021 - More information

    Amends GS 160D-804.1 (performance guarantees to assure compliance with subdivision development regulations) to do the following:
    (1) Change the period for completion of improvements subject to bonded performance guarantees to be no more than one year initially;
    (2) Require letters of credit or escrow funds securing a performance guarantee be timely released upon completion of the improvements to the local government’s specifications or satisfaction and upon acceptance by both the local government and the Department of Transportation; and
    (3) Make clarifying changes.


Printer-friendly: Click to view