The bill amends Section 18-2-302 of the Montana Code Annotated to allow for the acceptance of electronic bid bonds for state building or construction projects. Specifically, it introduces a provision stating that the state or other governmental entities may accept electronic bid bonds that are signed electronically or otherwise verified by both the bidder and the surety. This change aims to modernize the bidding process and facilitate easier participation in state projects.

Additionally, the bill maintains existing requirements for bid security, which must still be accompanied by a security amounting to 10% of the bid, and outlines acceptable forms of bid security, including cash, checks, and bonds from authorized surety companies. The bill also retains the provision allowing the state to waive bid security requirements for projects costing less than $150,000. Overall, the amendments seek to streamline the bidding process while ensuring compliance with security measures.

Statutes affected:
LC Text: 18-2-302
SB0029_1(1): 18-2-302
SB0029_1(2): 18-2-302
SB0029_1(3): 18-2-302
SB0029_1(4): 18-2-302
SB0029_1(5): 18-2-302
SB0029_1(6): 18-2-302
SB0029_1: 18-2-302
SB0029_2: 18-2-302
SB0029_X(1): 18-2-302
SB0029_X(2): 18-2-302
SB0029_X(3): 18-2-302
SB0029_X(4): 18-2-302
SB0029_X(5): 18-2-302
SB0029_X: 18-2-302