O'CONNOR. New Act Creates the Building and Construction Contract Act. Provides that unless a building and construction contract provides otherwise, the owner must make monthly progress payments. Provides that the owner may reserve a retainage from any progress payment. Effective immediately. HOUSE AMENDMENT NO. 1. Provides that the term "building and construction contract" does not include any contract otherwise included in the definition of the term to the extent that the contract involves the expenditure of public moneys, whether State or local. Provides that a building and construction contract must require the prime contractor and all subcontractors to pay each subcontractor or material supplier within 15 business days after the prime contractor or subcontractor receives payment from the owner for undisputed amounts for service provided by a subcontractor or materials provided by a supplier. FEB-23-2001 H FILED WITH CLERK FEB-23-2001 H FIRST READING FEB-23-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-27-2001 H ASSIGNED TO COMMITTEE JUD-CIVIL LAW MAR-08-2001 H DO PASS/SHORT DEBATE 012-000-000 HJUA MAR-08-2001 H PLACED CALENDAR 2ND READING-SHORT DEBATE MAR-26-2001 H AMENDMENT NO. 01-O'CONNOR MAR-26-2001 H AMENDMENT REFERRED TO HRUL MAR-26-2001 H CALENDAR ORDER 2ND READING-SHORT DEBATE MAR-27-2001 H AMENDMENT NO. 01-O'CONNOR MAR-27-2001 H RECOMMENDS BE ADOPTED HRUL/004-000-000 MAR-27-2001 H SECOND READING-SHORT DEBATE MAR-27-2001 H AMENDMENT NO. 01-O'CONNOR MAR-27-2001 H ADOPTED MAR-27-2001 H PLCD CAL ORDER 3RD READING-SHORT DEBATE APR-06-2001 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary