HB4794ham001 95TH GENERAL ASSEMBLY

Local Government Committee

Filed: 3/5/2008

09500HB4794ham001 LRB095 18063 HLH 47089 a

AMENDMENT TO HOUSE BILL 4794

AMENDMENT NO. ______. Amend House Bill 4794 on page 2, by replacing lines 2 through 6 with the following:

"(b) For goods or services under a construction contract, it is unlawful to withhold more than 5% retainage on payments earned by contractors and subcontractors. Upon completion of 50% of the work under the contract, retainage must be reduced to an amount not to exceed 2.5%.".