Arizona SB 1510: public contracts; payment methods

Status: Signed by Governor (as of 2020-06-05)

State: Arizona · Session: 54th-2nd-regular · Bill: SB 1510

Subjects: DESIGN PROFESSIONAL SERVICES, DESIGN PROFESSIONALS, PAYMENT METHOD, PAYMENTS TO CONTRACTOR, PROGRESS PAYMENTS, PUBLIC BUILDINGS AND IMPROVEMENTS - TITLE 34, PUBLIC CONTRACTS, RECOVERY OF DAMAGES FOR DELAY, SERVICE CONTRACTS, SUBCONSULTANT

Sponsors: David Livingston

Bill Text

SB1510 - 542R - S-Livingston flr amend (ref Bill) adopted-Adopted 

����������� Bill Number: S.B. 1510

����������� Livingston 
Floor Amendment

����������� Reference 
to: printed bill

����������� Amendment 
drafted by: Mike Hans

FLOOR 
AMENDMENT EXPLANATION

� 
Prohibits 
the amount deposited into a money market account or demand deposit account in 
lieu of retention for certain public construction projects from being released 
by the financial institution to the contractor without written authorization of 
the government entity. 

� 
Makes 
technical and conforming changes. 

Fifty-fourth Legislature���������������������������������������������� Livingston

Second 
Regular Session������������������������������������������������� S.B. 1510

LIVINGSTON FLOOR AMENDMENT

SENATE AMENDMENTS TO S.B. 1510

(Reference to printed bill)

Page 3, line 
1 strike "the agent accepts substitute security" insert "the contractor opts for substitute security"

Line 9, 
after "a" insert "money market account, demand 
deposit account,"

Line 14 
after the period, insert "the amount deposited in a money 
market account or demand deposit account in lieu of the retention provided in 
this section shall not be released by the financial institution to the 
contractor except on written authorization of the agent."

Amend title to conform

 DAVID LIVINGSTON

1510LIVINGSTON1118.docx

02/28/2020

11:18 AM

S: MH/gs

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