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%.".