Mississippi House Bill 272

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on March 5 2024 - 100% progression
Action: 2024-03-05 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

An Act To Establish Terms For Payment By Owners, Contractors And Subcontractors To Contractors, Subcontractors, Sub-subcontractors And Material Suppliers With Respect To The Performance Of Contracts; To Define Certain Terms For The Purposes Of This Act; To Provide That If An Owner, Contractor, Or Subcontractor Does Not Make Payment In Compliance With This Act, The Owner, Contractor, Or Subcontractor Shall Be Obligated To Pay Interest On The Unpaid Balance Due; To Provide That A Contractor Who Receives A Payment From An Owner In Connection With A Contract Shall Pay Each Of Its Subcontractors The Portion Of The Owner's Payment To The Extent Of That Subcontractor's Interest In The Owner's Payment And That Such Payment Shall Be Made Not Later Than The Seventh Day After The Date The Contractor Receives The Owner's Payment; To Establish A Maximum Amount Of Retainage And Establish The Timing For Release Of Retainage With Respect To The Performance Of Contracts And To Provide For The Payment Of Interest For Improperly Held Retainage; To Provide Types Of Contracts To Which The Provisions Of This Act Do Not Apply; To Amend Section 31-5-33, Mississippi Code Of 1972, To Define The Term "retainage" For Purposes Of Certain Public Works Contracts; To Bring Forward Section 31-5-15, Mississippi Code Of 1972, Which Relates To The Withdrawal By Contractors Of Amounts Retained On Public Contracts, For The Purposes Of Possible Amendment; And For Related Purposes.

Construction contracts; provide certain requirements regarding payment and retainage.

Rep. Donnie Bell [R]

Date	Chamber	Action
2024-03-05	House	Died In Committee
2024-01-17	House	Referred To Business and Commerce

Chapter	Article	Section	Citation Type	Statute Text
31	5	15	New Code	See Bill Text
31	5	33	Amended Code	See Bill Text

Type	Source
Summary	https://billstatus.ls.state.ms.us/2024/pdf/history/HB/HB0272.xml
Text	https://billstatus.ls.state.ms.us/documents/2024/html/HB/0200-0299/HB0272IN.htm