|
|
Local Government Committee
Filed: 3/5/2008
|
|
09500HB4794ham001 |
|
LRB095 18063 HLH 47089 a |
|
|
| 1 |
| AMENDMENT TO HOUSE BILL 4794
|
| 2 |
| AMENDMENT NO. ______. Amend House Bill 4794 on page 2, by |
| 3 |
| replacing lines 2 through 6 with the following:
|
| 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%.".
|