❌ HB288
Require construction project owners to timely pay contractors
Current Status: Reported By Committee (House) (Small Business)
Summary
HB288 requires private construction project owners to pay contractors in a timely manner, specifying payment timelines based on the type of work performed. If payment is not made within the specified timeframes, interest is due on the unpaid amount. The bill also mandates that contractors pay subcontractors and material suppliers within a set period after receiving payment from the owner.
Rationale
The bill imposes government-mandated payment timelines and interest penalties, which conflicts with the Libertarian principles of minimal government intervention in contracts and free market operations. Both the LP and LPO platforms emphasize the importance of voluntary agreements without government interference, leading to a mixed alignment score.
Risks and Concerns
- Increased government control over private contracts
- Potential for cronyism in enforcement of payment timelines
- Disruption of free market dynamics in construction industry