HB 08 1306 House 2nd - Vote Count
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ASAC response to City and County of Denver
April 4, 2008
HB08-1306 is a pro-growth, pro-business response to delayed payment on public and private construction projects, which is a burden on the Colorado economy and properly the subject of a regulatory response by the State of Colorado.
HB08-1306 is the result of meetings and discussions by all representatives to the Colorado construction industry. The working group is an industry group, including public and private owners, architects, engineers, bankers, general contractors, subcontractors, industry associations, trade associations, etc. Read more>
State of Colorado Introduced House Bill 08-1306
Enacts the "Construction Prompt Payment Reform Act of 2008". Makes a legislative declaration. Establishes the scope of the act. Authorizes a contractor or subcontractor to request a written statement of the owner's ability to fulfill contract obligations and requires the owner to provide the statement. Prohibits the contractor and subcontractor from disclosing the statement. Read more>
Prompt Pay and Retainage Reform - Legislative Update
November 14, 2008
The office of the American Subcontractors Association of Colorado (ASAC) and members of the ASAC Government Relations Committee have received a number of telephone calls, emails and contacts about the status of the prompt pay and retainage reform negotiations.
Based on some of the questions and/or comments that have been brought to our attention surrounding this important issue, it’s obvious that information is being circulated that is neither accurate nor up to date. Read more>
Legislative Update - Prompt Pay
December 7, 2007
The Colorado construction industry came together on Monday, December 3, 2007. The goal of the all day meeting was to craft language that would become the proposed 2008 prompt pay and retainage legislation.
At the heart of, or the keystone of any legislation attempting to promote PROMPT payment in the construction industry, is the fundamental issue of payment schedule. Such a schedule must take into account the payment realities that all subcontractors face regarding labor and materials, both of which must be paid on a 30-day or less schedule. In this regard, subcontractors all fall into a “one size fits all” world, with very few exceptions. Yet other members of the working group feel they should not be held to a “one size fits all” or 30-day standard. And though they have been asked many times to enumerate, for consideration and inclusion in the bill, those circumstances that would necessitate slower pay schedules, no defensible examples have been as of yet presented. Read more>
POSITION PAPER - HB08-1306
Concerning Payments of Amounts Due Under A Construction Agreement
(Sponsored by: Representative Riesberg and Senator Kester)
HB08-1306 is a pro-growth, pro-business response to delayed payment, which is a burden on the Colorado economy and properly the subject of a regulatory response by the State of Colorado.
Changes in the construction industry since the post-World War II building boom have transformed construction project cash flow, and have thus fostered the development of unfair payment structures in private and public construction.
HB08-1306 is the result of meetings and discussions by all representatives to the Colorado construction industry. The working group is an industry group, including public and private owners, architects, engineers, bankers, general contractors, subcontractors, industry associations, trade associations, etc. Read more>
Politics is like the 'Casino Royale' of the retail industry
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