Limiting the security a town or municipality may require as a condition of plat approval

What it does

Summary by the Legislative Reference Bureau, the Legislature's nonpartisan drafting office. It's their wording, not ours.

Under current law, a county, town, city, or village (approving authority) has the right to approve or object to plat. A plat is a map of a subdivision, which is defined under current law as a division of a unit of land by an owner for the purpose of a sale or development and the sale or development results in at least five individual parcels or building sites. Generally, the location of the subdivision determines which approving authority or authorities have the right to approve or reject the plat.

Under current law, as a condition of approval, an approving authority may require a subdivider to execute a surety bond or provide other security to ensure that certain public improvements are made in connection with a project or a phase of a project. This bill explicitly allows the subdivider to choose whether to satisfy such a requirement with a performance bond or a letter of credit. Additionally, under the bill, upon substantial completion of required public improvements, an approving authority may not require a subdivider to maintain security in an amount that is more than the total cost to complete any public improvements that are not completed plus ten percent of the total cost of the completed public improvement and may not require the subdivider to maintain the security for more than 12 months from the date the public improvements are substantially completed. The bill defines substantial completion as when the binder coat is installed on roads to be dedicated or, in a case where no roads are to be dedicated, when 90 percent of the public improvements by cost are completed.

Who's behind it

Jim Steineke, a Republican, is its author⁠.

1 more lawmaker signed on in support⁠.

Versions and amendments

Every text the Legislature printed for this bill, including proposed changes. Each opens on the Legislature's site.

• Amendment Histories