SENATE BILL 739

File Code: State Government - Procurement Crossfiled with: HOUSE BILL 600

Sponsored By:

Senator Haines

Entitled:

Procurement - Construction Contracts - Progress Payments

Synopsis:

Requiring a primary procurement unit that makes progress payments on a construction contract to make payments at least every month; limiting the percentage of progress payments that may be retained by a primary procurement unit, if payment or performance security has been furnished; requiring money retained by a primary procurement unit to be held in an interest-bearing escrow account; etc.

History by Legislative Date

Senate Action

2/4

First Reading Economic and Environmental Affairs

2/16

Hearing 3/9 at 1:00 p.m.

House Action

No Action

Bill indexed under the following Subjects:

CONSTRUCTION

CONTRACTORS -see also- HEATING & COOLING; HOME IMPROVEMENT

ESCROW ACCOUNTS

INTEREST

PROCUREMENT

Bill affects the following Statute:

State Finance and Procurement

( 13-225 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered