AB5

Existing law authorizes the State Contractors' Board to require a contractor who performs work concerning a residential photovoltaic system used to produce electricity, before commencing the work, to obtain a performance bond and payment bond in an amount equal to not less than 50 percent of the amount of the contract if the contractor: (1) is determined by the Board to have committed certain violations; (2) enters into a contract that is later voided by the owner of the single-family residence on which the work is performed; or (3) has five valid complaints filed against him or her with the Board within a 15-day period. (NRS 624.270) Rather than authorizing the Board to require a contractor who performs work concerning a residential photovoltaic system used to produce electricity to obtain a performance bond and payment bond before commencing the work only under certain circumstances, section 1 of this bill instead requires all contractors who perform work concerning a residential photovoltaic system used to produce electricity to obtain a performance bond and payment bond before commencing the work. Section 1 also increases the amount of each of the required bonds to an amount equal to not less than 100 percent of the amount of the contract. Section 1 additionally requires the bonds to be issued by a surety which is included in the United States Department of the Treasury's Listing of Approved Sureties. Section 2 of this bill provides that the revised requirements f

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