Water Infrastructure: Subcontractor and Taxpayer Protection Act
This new law aims to enhance financial security in federally funded water infrastructure projects. It mandates payment and performance security, protecting subcontractors from non-payment and taxpayers from uncompleted work. This ensures public funds are better safeguarded, and projects are more likely to be completed on time and correctly.
Key points
Requires payment and performance security for federally funded water projects, protecting businesses and workers.
Ensures taxpayer money is better protected against uncompleted or delayed work in water infrastructure projects.
Allows the use of existing state or local requirements if they meet minimum security standards.
Status:
Introduced
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