law24298

Chapter 298

2024 -- H 7950 SUBSTITUTE A
Enacted 06/25/2024

A N A C T

RELATING TO TOWNS AND CITIES -- SUBDIVISION OF LAND

Introduced By: Representatives Felix, Potter, Giraldo, Cruz, Batista, Speakman, Henries, and Morales

Date Introduced: March 05, 2024

It is enacted by the General Assembly as follows:

SECTION 1. Section 45-23-46 of the General Laws in Chapter 45-23 entitled "Subdivision

of Land" is hereby amended to read as follows:

45-23-46. General provisions — Construction and/or improvement guarantees.

(a) The local regulations shall require planning board approval of the permitting authority

of agreements for the completion of all required public improvements prior to final plan approval

in the form of: (1) completion Completion of actual construction of all improvements,; (2)

improvement Improvement guarantees,; or (3) combination Combination thereof.

(b) Where improvements are constructed without a financial guarantee, the work is to be

completed prior to final approval. All construction shall be inspected by the appropriate town staff

or agents in a timely manner and approved under the direction of the administrative officer and

according to local regulations.

secure for the municipality the actual construction and complete installation of all the required

improvements, within the period specified by the planning board permitting authority. The amount

shall be based on actual cost estimates for all required public improvements and these estimates

shall be reviewed and approved by the planning board permitting authority. The board permitting

authority may fix the guarantee in a reasonable amount in excess of the estimated costs to anticipate

for economic or construction conditions. Local regulations may include provisions for the review

and/or upgrade of guarantees.

(d) The security shall be in the form forms of a financial instrument acceptable to the

approving authority instruments set forth in local regulations and shall enable the municipality to

gain timely access to the secured funds, for cause. The local regulations shall provide at least three

(3) acceptable forms of financial security and the approving authority shall not limit the security to

one specific form of the acceptable forms set forth in the local regulations.

(e) The local regulations shall establish procedures for the setting of improvement

guarantee amounts,; for inspections of improvements,; for acceptance of improvements by the

municipality; and for the release of the improvement guarantees to the applicant. Procedures may

include provisions for partial releases of the guarantees as stages of the improvements are

completed, inspected, and approved under the coordination of the administrative officer and

reported to the planning board permitting authority.

(f) In the cases of developments and subdivisions which that are being approved and

constructed in phases, the planning board permitting authority shall specify improvement guarantee

requirements related to each particular phase.

(g) The planning board permitting authority may also require maintenance guarantees to

be provided for a one-year period subsequent to completion, inspection, and acceptance of the

improvement(s) unless there are extenuating circumstances. Such maintenance guarantee shall not

exceed ten (10%) percent (10%) of the original guarantee amount, or the original cost of the public

improvements if no guarantee was required.

(h) Procedures for the acceptance of required improvements shall stipulate that all

improvements, once inspected and approved, shall be accepted by the municipality or other

appropriate municipal agency for maintenance and/or part of the municipal system.

(i) The municipality is granted the power to enforce the guarantees by all appropriate legal

and equitable remedies.

SECTION 2. This act shall take effect on January 1, 2025.

========

LC005512/SUB A

========