Amend CSHB 740 on page 30, by striking lines 2-17 and substituting the following: Sec. 53.258. DISBURSEMENTS OF FUNDS. (a) For the construction of improvements under a residential construction contract, the original contractor shall provide to the owner a signed periodic statement that lists the bills or expenses that the original contractor represents will be paid or that have been paid and for which the original contractor is requesting payment. The original contractor is not required to include in the statement the bills or expenses for which the original contractor has obtained a valid lien release or waiver from the subcontractor or supplier to whom the bills or expenses are owed if the statement includes a written representation that the balance of any funds that are not itemized in the statement will be paid to: (1) the subcontractor or supplier who provided the lien release or waiver; or (2) the original contractor as reimbursement for expenses incurred, profit, or overhead. (b) If the owner finances the construction of improvements through a third party that advances loan proceeds directly to the original contractor, the lender shall: (1) obtain from the original contractor the signed periodic statement required by Subsection (a) that covers the funds for which the original contractor is requesting payment; and (2) provide to the owner a statement of funds disbursed by the lender since the last statement was provided to the owner.