HB 1736-S - DIGEST

(DIGEST AS ENACTED)

      Requires public agencies to pay interest when the agency fails to make timely payment.

      Requires notification to the department of revenue of completion of contracts over twenty thousand dollars.

      Requires the funds for payment to be held in trust.

      Establishes prompt pay requirements.

      Allows a portion of the contract price to be retained.

      Provides remedies for disputes.