Sen. Terry Link
Filed: 5/29/2007
 
 

 




 

 		












09500HB0743sam003

LRB095 06522 WGH 37222 a






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AMENDMENT TO HOUSE BILL 743




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    AMENDMENT NO. ______. Amend House Bill 743 on page 1, line 
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7 by changing "Billing" to "Payment application"; and
 

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on page 1, line 10 by inserting after "retainage" the 
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following:
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"from the contractor to the owner"; and
 

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on page 1, line 17 by inserting after "residences" the 
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following:
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"or multiple family residences with 12 or fewer units in a 
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single building"; and

 

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on page 1, by inserting after line 20 the following:
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    "(d) "Disbursing agent" means any entity authorized by the 
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owner or lender to disburse payments pursuant to an approved 
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payment application."; and
 

 


 






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on page 2, line 3 by changing "billing" to "payment 
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application"; and
 

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on page 2, line 4 by changing "owner's agent" to "disbursing 
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agent"; and
 

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on page 2, line 5 by changing "billing" to "payment 
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application"; and
 

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on page 2, line 6 by changing "billing" to "payment 
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application"; and
 

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on page 2, line 7 by inserting "or disbursing agent" after 
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"owner"; and
 

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on page 2, line 8 by inserting "or disbursing agent" after 
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"owner"; and
 

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on page 2, line 15 by inserting after the period the following: 
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"Instructions or notification from an owner to his or her 
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lender or architect to process or pay a payment application 
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does not constitute approval of the payment application under 
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this Act."; and

 

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on page 2, line 19 by changing "owner's agent" to "disbursing 
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agent"; and
 

 


 






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LRB095 06522 WGH 37222 a




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on page 3, lines 5 and 6 by changing "owed under the 
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construction contract" to "that payment"; and
 

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on page 3, by inserting after line 12 the following:
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    "(c) The interest imposed by this Act shall not be 
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duplicative of the interest charged under the Mechanics Lien 
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Act.".