Amend HB 2914 as follows:
      Insert the following appropriately numbered SECTION and
renumber SECTIONS to conform:
      SECTION _____.  Section 2252.031, Government Code, is amended
to read as follows:
      Sec. 2252.031.  DEFINITIONS.  In this subchapter:
            (6)  "Subcontractor" means a person who provides public
work, labor, or material to fulfill an obligation to a prime
contractor or subcontractor for the performance or installation of
any work required by a public works contract.
      SECTION _____.  Section 2252.032, Government Code, is amended
to read as follows:
      Sec. 2252.032.  RETAINAGE.  (a)  A governmental entity shall:
            (1)  deposit in an interest-bearing account the
retainage of public works contract <that provides for retainage of
more than five percent of a the periodic contract payment>; and
            (2)  pay the interest earned on the retainage to the
prime contractor <on completion of the contract>.
      (b)  A prime contractor shall pay to a subcontractor from
whom retainage is withheld the percentage of the interest received
from a governmental entity that is attributable to the
subcontractor's work.
      (c)  A subcontractor shall pay to its subcontractor from whom
retainage is withheld the percentage of the interest received from
the prime contractor that is attributable to its subcontractor's
work.
      (d)  A person obligated to pay interest under Subsection (a),
(b), or (c) shall pay the interest within the period prescribed for
payment by Chapter 2251.
      (e)  If a governmental entity is obligated to pay interest
under this section and does not make the interest payments within
the period prescribed by Subsection (d), interest accrues for the
overdue payments in the manner and at the rate prescribed by
Chapter 2251, less interest of the interest-bearing account.
      (f)  If a prime contractor or subcontractor is obligated to
pay interest under this section and does not make the interest
payments within the period prescribed by Subsection (d), interest
accrues for the overdue payments in the manner and at the rate
prescribed by Chapter 2251.