New Jersey Senate Bill S4104

New Jersey 2022-2023 Regular Session

• Introduced: 11/30/23
• Refer: 11/30/23

Caption

Requires surety to take certain actions after assuming responsibility for completion of transportation project.

Impact

The bill's enactment will directly affect New Jersey's transportation project regulations, streamlining the process by placing stringent time limits on sureties after they become responsible for projects. The legislation's intent is to ensure that projects do not stagnate due to administrative delays, compelling sureties to act promptly to engage contractors and continue work. This could potentially lead to increased efficiency in the state's transportation infrastructure initiatives, fostering better project outcomes.

Summary

Senate Bill 4104, introduced by Senator Andrew Zwicker, mandates that when a surety assumes responsibility for the completion of transportation projects, specific actions must be taken within set timeframes. Specifically, the bill requires that sureties enter into a contract with a contractor for the project's completion within 60 calendar days and that construction must begin, or be resumed, within the same period following the contract execution. This stipulation is aimed at reducing delays in transportation project completions in New Jersey.

Contention

One notable aspect of Bill S4104 is the enforcement mechanism, which imposes penalties of at least $10,000 for any surety that fails to comply with the outlined requirements. This penalty structure highlights the bill’s seriousness in promoting accountability among sureties and ensuring timely project management. However, the imposition of such penalties may cause concern among sureties regarding their financial liabilities, leading to potential opposition from industry stakeholders who may view the penalties as excessively burdensome.