The bill amends Section 45-23-46 of the General Laws in Chapter 45-23, which pertains to the subdivision of land. It introduces new provisions regarding construction and improvement guarantees, allowing permitting authorities to require maintenance guarantees for a period of up to two (2) years following the completion, inspection, and acceptance of public improvement projects.

The bill outlines that local regulations must mandate the approval of agreements for the completion of public improvements before final plan approval. It specifies various forms of improvement guarantees, which must be based on actual cost estimates and reviewed by the permitting authority. Additionally, the bill establishes procedures related to the setting of guarantee amounts, inspections, acceptance of improvements, and the release of guarantees.

The maintenance guarantee is capped at ten percent of the original guarantee amount or the original cost of the public improvements if no guarantee was required. Furthermore, the bill empowers municipalities to enforce these guarantees through appropriate legal and equitable remedies, ensuring that public improvements are adequately maintained over the specified period. The act will take effect upon passage.

Statutes affected:
3292: 45-23-46