Assembly Bill 39 requires consumers engaging in contracts for home improvement projects to their single-family residences to pay no more than $1,000 or 10% of the aggregate contract price, whichever is less. A down payment may exceed this amount if the contractor posts a Consumer Protection Bond in the amount of $100,000 or was previously granted relief of the requirement to post a license bond. Competitive rates begin at 1% for qualified applicants and are based on personal credit, the history and experience of the business, and any prior contractor bond history.
- Bond amount: $100,000