SENATE BILL 695

Sponsored By:

Senators Stone and Haines

Entitled:

Real Property - Construction Contracts - Retention Proceeds

Synopsis:

Providing that retention proceeds may not exceed a specified percentage of specified contracts or payments under specified circumstances; 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

Senate Action

2/2

First Reading Judicial Proceedings

2/7

Hearing 3/13 at 1:00 p.m.

House Action

No Action

Sponsored by:

Senator Norman R. Stone, Jr., District 6

Senator Larry E. Haines, District 5

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

Fiscal and Policy Note (Displayed in PDF Format): Available

Amendments: None offered