House
File
381
H-1194
Amend
House
File
381
as
follows:
1
1.
By
striking
page
2,
line
26,
through
page
3,
2
line
12,
and
inserting:
3
<
4.
For
a
contract
for
private
construction,
if
the
4
owner
fails
to
pay
the
contractor
by
the
date
payment
5
is
due
pursuant
to
the
contract,
the
owner
shall
pay
6
interest
to
the
contractor
beginning
on
the
first
day
7
after
payment
is
due,
computed
at
the
rate
of
eighteen
8
percent
per
annum.
9
5.
For
a
contract
for
private
construction,
a
10
contractor
shall
pay
a
subcontractor
any
amounts
11
due
within
seven
business
days
of
whichever
of
the
12
following
is
later:
13
a.
Receipt
of
payment
by
the
contractor
from
the
14
owner,
including
payment
of
retainage,
if
retainage
is
15
released
by
the
owner.
16
b.
The
date
payment
to
the
subcontractor
is
due
17
pursuant
to
the
contract.
18
6.
If
a
contractor
fails
to
pay
a
subcontractor
19
pursuant
to
subsection
5,
the
contractor
shall
pay
20
interest
to
the
subcontractor
beginning
on
the
first
21
business
day
after
payment
becomes
due,
computed
at
the
22
rate
of
eighteen
percent
per
annum.
>
23
2.
Page
3,
line
13,
by
striking
<
6
and
7
>
and
24
inserting
<
5
and
6
>
25
3.
Page
3,
lines
28
and
29,
by
striking
<
in
a
26
contract
for
private
construction
or
>
27
4.
By
striking
page
6,
line
10,
through
page
7,
28
line
1,
and
inserting:
29
<
3.
For
a
contract
for
public
construction,
if
the
30
owner
fails
to
pay
the
contractor
by
the
date
payment
31
is
due
pursuant
to
the
contract,
the
owner
shall
pay
32
interest
to
the
contractor
beginning
on
the
first
day
33
after
payment
is
due,
computed
at
the
rate
of
eighteen
34
percent
per
annum.
35
4.
For
a
contract
for
public
construction,
a
36
contractor
shall
pay
a
subcontractor
any
amounts
37
due
within
seven
business
days
of
whichever
of
the
38
following
is
later:
39
a.
Receipt
of
payment
by
the
contractor
from
the
40
owner.
41
b.
The
date
payment
to
the
subcontractor
is
due
42
pursuant
to
the
contract.
43
5.
If
a
contractor
fails
to
pay
a
subcontractor
44
pursuant
to
subsection
4,
the
contractor
shall
pay
45
interest
to
the
subcontractor
beginning
on
the
first
46
business
day
after
payment
becomes
due,
computed
at
the
47
rate
of
eighteen
percent
per
annum.
>
48
5.
Page
7,
line
2,
by
striking
<
6
and
7
>
and
49
inserting
<
4
and
5
>
50
-1-
HF381.996
(5)
84
je/rj
1/
2
#1.
#2.
#3.
#4.
6.
Page
7,
lines
6
and
7,
by
striking
<
in
a
1
contract
for
public
construction
or
>
2
7.
By
renumbering
as
necessary.
3
______________________________
COMMITTEE
ON
COMMERCE
SODERBERG
of
Plymouth,
Chairperson
-2-
HF381.996
(5)
84
je/rj
2/
2
#6.
#7.