Local Government Committee
Filed: 3/5/2008
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1 | AMENDMENT TO HOUSE BILL 4794
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2 | AMENDMENT NO. ______. Amend House Bill 4794 on page 2, by | ||||||
3 | replacing lines 2 through 6 with the following:
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4 | " (b) For goods or services under a construction contract, | ||||||
5 | it is unlawful to withhold more than 5% retainage on payments | ||||||
6 | earned by contractors and subcontractors. Upon completion of | ||||||
7 | 50% of the work under the contract, retainage must be reduced | ||||||
8 | to an amount not to exceed 2.5%. ".
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