| Vote Recommendation | Economic Freedom | Property Rights | Personal Responsibility | Limited Government | Individual Liberty |
|---|---|---|---|---|---|
| Neutral | Neutral | Neutral | Neutral | Neutral | Neutral |
Relating to retainage requirements for certain public works construction projects.
No significant fiscal implication to the State is anticipated.
HB 692 would require a government entity to include in each public works contract a provision that establishes the circumstances under which the public works project is considered substantially complete and the governmental entity may release all or a portion of the retainage for substantially or fully completed portions of the project.
The bill would also place various restrictions on retainage for public works contracts above different dollar amounts.