1-1     By:  Longoria (Senate Sponsor - Truan)                H.B. No. 1138
 1-2           (In the Senate - Received from the House May 11, 2001;
 1-3     May 11, 2001, read first time and referred to Committee on State
 1-4     Affairs; May 11, 2001, reported favorably by the following vote:
 1-5     Yeas 8, Nays 0; May 11, 2001, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to the form of a proposal guaranty for a contract of the
 1-9     Texas Department of Transportation.
1-10           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11           SECTION 1.  Subchapter A, Chapter 223, Transportation Code,
1-12     is amended by adding Section 223.014 to read as follows:
1-13           Sec. 223.014.  FORM OF PROPOSAL GUARANTY.  If the department
1-14     by rule requires a proposal guaranty as a condition of bidding for
1-15     a contract, the guaranty may be in the form of:
1-16                 (1)  a cashier's check or money order drawn on a
1-17     financial entity specified by the department; or
1-18                 (2)  a bid bond issued by a surety authorized to do
1-19     business in this state.
1-20           SECTION 2.  This Act takes effect January 1, 2002.
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