HOUSE BILL 1522 |
HOUSE AUTHOR: Siebert et al. |
EFFECTIVE: 09-01-99 |
SENATE SPONSOR: Armbrister |
House Bill 1522 amends provisions of the Property Code relating to prompt payment on certain construction projects. The act reduces the time allowed for an owner to pay a contractor's or subcontractor's invoice, reduces the amount that an owner, contractor, or subcontractor may withhold from payment when a good faith dispute exists on certain projects, and establishes the terms under which contractors and subcontractors may suspend work. The act exempts from prompt payment provisions certain projects relating to exploration for and production, development, and distribution of oil or gas.