Bill Title: Reinserts the provisions of the introduced bill with the following changes. Removes provisions relating to interest on retainage and payment of retainage. Adds that all governmental units shall deposit all retainage into an interest-bearing escrow account and the moneys in the escrow account and all interest shall be divided up between the contractor and subcontractors proportionally.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced) 2024-04-19 - Rule 19(a) / Re-referred to Rules Committee [HB4418 Detail]

Text: Latest bill text (Introduced) [HTML]

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