2008 Regular Session

SENATE BILL 313

CHAPTER NUMBER: 390
File Code: Real Property Prior Year Introduction As: HB 342/07 - ECM Crossfiled with: HOUSE BILL 647
Sponsored By:
Senators Stone, Haines, Colburn, Conway, Miller, and Muse
Entitled:
Real Property - Construction Contracts - Retention Proceeds

Synopsis:

Providing that if a contractor has furnished 100% security to guarantee performance and 100% security to guarantee payment for labor and materials, the retention proceeds may not exceed 5% of the contract price; providing that retention proceeds may exceed a specified percentage of payments if contractors reasonably determine that the performance of subcontractors provides reasonable grounds for withholding specified amounts; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occuring in the Chambers otherwise Calendar date is used.
Senate Action
1/28
First Reading Judicial Proceedings
2/6
Hearing 2/27 at 1:00 p.m.
3/11
Favorable Report by Judicial Proceedings
3/12
Favorable
Special Order 3/14 (Senator Astle) Adopted
3/14
Favorable Report Adopted
Floor Amendment (Senator Kramer)
Laid Over (Senator DeGrange) Adopted
3/17
Floor Amendment (Senator Kramer) Adopted (29-16)
Second Reading Passed with Amendments
3/19
Third Reading Passed (28-18)
4/2
Returned Passed
House Action
3/16
First Reading Economic Matters
3/25
Hearing 4/2 at 1:00 p.m.
4/3
Favorable Report by Economic Matters
3/28
Favorable Report Adopted
Second Reading Passed
3/30
Third Reading Passed (134-3)
Action after passage in Senate and House
5/13
Approved by the Governor
- Chapter 390

Sponsored by:

Senator Norman R. Stone, Jr., District 6
Senator Richard F. Colburn, District 37
Senator Joan Carter Conway, District 43
Senator Larry E. Haines, District 5
Senator Thomas V. Mike Miller, Jr., District 27
Senator C. Anthony Muse, District 26

Bill indexed under the following Subjects:

Construction
Contractors -see also- Heating & Cooling; Home Improvement
Contracts -see also- Land Installment Contracts; Procurement
Real Property

Bill affects the following Statutes:

Real Property
( 9-304 , 9-304 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled, Chapter
Fiscal and Policy Note (Displayed in PDF Format): Available
Amendments (Displayed in PDF Format):
Senate
Number: 563028/01     Offered on: March 17, 2008   at: 8:29 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
March 17, 2008: Floor Amendment (Kramer) {563028/1 Adopted (29-16)
March 19, 2008: Third Reading Passed (28-18)
House
March 30, 2008: Third Reading Passed (134-3)