HB568
Limit retainage in certain private construction projects
📋 What This Bill Does
The bill limits retainage in private construction projects with an expected value greater than one million dollars to no more than five percent of the contract value. It applies to contracts entered into on or after the effective date of the section and does not require payment of retainage if there is a good faith claim related to the work performed or materials supplied.
Plain English summary · Non-partisan · Auto-generated
Rationale
HB568 conflicts with Libertarian platforms because it imposes state limits on private construction contracts. Libertarian principles favor voluntary agreements and free markets, not government caps on retainage or mandated contract terms.