Bill: HB 1538 (SB 5222) — 2017
Requiring prime contractors to bond the subcontractors portion of retainage upon request (Stambaugh, Doglio, Vick)
1ST SUBSTITUTE COMPARED TO ORIGINAL:
The prime contractor may withhold the bond premium for the portion of the subcontractor's retainage bond.
EFFECT OF COMMERCE, LABOR & SPORTS COMMITTEE STRIKER AMENDMENT(S):
A provision that exempts a contractor from having to provide a bond if the bond is not commercially available is removed. A provision that allows the contractor to charge the subcontractor any fees or costs related to the retainage bond requested by the subcontractor is removed.
Hearing Date: Friday, February 03, 2017 -- 8:00 am
WA State Legislature Link:
http://app.leg.wa.gov/billsummary?BillNumber=1538&Year=2017 (opens a new browser tab)
|Capital Planning & Develop||Governor Signature||2017-02-03|