HB0743sam004 95TH GENERAL ASSEMBLY

Sen. Terry Link

Filed: 5/29/2007

09500HB0743sam004 LRB095 06522 WGH 37273 a

AMENDMENT TO HOUSE BILL 743

AMENDMENT NO. ______. Amend House Bill 743 on page 1, line 7 by changing "Billing" to "Payment application"; and

on page 1, line 10 by inserting after "retainage" the following: "from the contractor to the owner"; and

on page 1, line 17 by inserting after "residences" the following: "or multiple family residences with 12 or fewer units in a single building"; and

on page 2, line 3 by changing "billing" to "payment application"; and

on page 2, line 5 by changing "billing" to "payment application"; and

on page 2, line 6 by changing "billing" to "payment application"; and

on page 2, line 15 by inserting after the period the following:

"Instructions or notification from an owner to his or her lender or architect to process or pay a payment application does not constitute approval of the payment application under this Act."; and

on page 3, lines 5 and 6 by changing "money owed under the construction contract" to "that payment"; and

on page 3, by inserting after line 12 the following:

"(c) The interest imposed by this Act shall not be duplicative of the interest charged under the Mechanics Lien Act.".