REPORT TITLE:
Public Contracts; Payment


DESCRIPTION:
Requires the comptroller to adopt administrative rules as may be
necessary to implement the law relating to the prompt payment of
public contracts.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        
THE SENATE                              S.B. NO.           59
TWENTIETH LEGISLATURE, 1999                                
STATE OF HAWAII                                            
                                                             
________________________________________________________________
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                   A  BILL  FOR  AN  ACT

RELATING TO PUBLIC CONTRACTS.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  Section 103-10.5, Hawaii Revised Statutes, is
 
 2 amended to read as follows:
 
 3      "[[]103-10.5[]]  Prompt payment.  Any money, other than
 
 4 retainage, paid to a contractor shall be dispersed to
 
 5 subcontractors within ten days after receipt of the money in
 
 6 accordance with the terms of the subcontract, provided that the
 
 7 subcontractor has met all the terms and conditions of the
 
 8 subcontract and there are no bona fide disputes.  Upon final
 
 9 payment to the contractor, full payment to the subcontractor,
 
10 including retainage, shall be made within ten days after receipt
 
11 of the money, provided there are no bona fide disputes over the
 
12 subcontractor's performance under the subcontract.  The
 
13 comptroller shall adopt rules pursuant to chapter 91 as may be
 
14 necessary to implement this section."
 
15      SECTION 2.  Statutory material to be repealed is bracketed.
 
16 New statutory material is underscored.
 
17      SECTION 3.  This Act shall take effect upon its approval.
 
18 
 
19                           INTRODUCED BY:_________________________
 

 
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