Lance Surety Bond Associates, Inc.

Taxes will be imposed on the extraction of natural gas in Pennsylvania through this bill. Under this bill the Department of Revenue would be authorized to require a surety bond for nonresident natural persons, or from any foreign entities that are not authorized to do business or not having an established place of business in the commonwealth. This bond will secure the payment of the tax and any penalties that may arise through the duration of the bond. The Department of Revenue will determine the amount required. A bond is also required to be posted by any person petitioning for the reassessment of tax assessment over $500 or where the Department believes the ultimate collection of the tax is in jeopardy. The Department could also require a bond from any person who filed a return or made payment more than 30 days late on three or more occasions within a 12-month period. Another option would be posting cash or securities in lieu of the surety bonds in any of these bond requirements.

A $25,000 surety bond or irrevocable letter of credit is required to be posted by tax prepares and tax consultants. This is in connection with existing law’s licensing requirements. Under this bill it states that the surety’s liability would continue until two years after the licensee ceases to conduct business in the state or until the bond was canceled. The surety must include a 30 day cancellation clause in the bond language to cancel the bond. The surety’s aggregate liability cannot exceed the sum of the bond.

HB 682: Public Official

Under HB 682 Byron City Council is now authorized to hire a city an administrator. The administrator will now be required to post a surety bond in the amount that the Council will determine. The City of Byron is now indemnified by this bond for the administrator’s default, misfeasance, or nonfeasance in the performance of his or her duties.

Enacted on May 13, 2009, Alabama House Bill (HB) 184 increased the bond amount that can be required by the State Board of Heating and Air Conditioning Contractors of certified heating and air conditioning contractors in the state. The amount that the State Board can require went up from $10,000 to $15,000.

HB 184 subjects all active heating and air conditioning contractors to this surety bond (license bond) requirement, to include refrigeration contractors.

Last year, a number of states passed legislation aimed at developing new technical assistance programs and surety bond guarantee programs, most of which were designed to aid small and emerging contractors (contract bonds), and other start-up companies, to include some minority business enterprises.

In the state of California, AB 2376 was enacted which crated the Small and Emerging Contractors Bonding Program, which followed a 2006 executive order from Governor Arnold Schwarzenegger. This newly enacted law tasks the Department of Transportation to work with California