SF 431: Relating to retention of fees for public improvement contracts

What it does

This bill relates to retention fees and bonds for public improvement contracts. The bill provides that after a claim has been filed for costs incurred in the construction of a public improvement and the general contractor has filed a surety bond in double the amount of the claim in controversy with a public corporation or person withholding funds, the public corporation or person must pay to the contractor the full amount of retention funds held for the project or double the amount of the claim, whichever is less.

Senate subcommittee · named February 26, 2025

• Sen. Mike Bousselot (R) · mike.bousselot@legis.iowa.gov
• Sen. Izaah Knox (D) · izaah.knox@legis.iowa.gov
• Sen. Scott Webster (R) · scott.webster@legis.iowa.gov

Lobbying · 5 for, 9 against

For: Associated Builders & Contractors of Iowa; IBEW Iowa State Conference; Master Builders of Iowa; National Federation of Independent Business (NFIB /IA); Sheet Metal Contractors of Iowa

Against: American Council of Engineering Companies; Associated Builders & Contractors of Iowa; Iowa Association of Community College Trustees; Iowa Association of School Boards; Iowa Engineering Society; Iowa Good Roads Association; Rural School Advocates of Iowa; School Administrators of Iowa; Urban Education Network of Iowa

In plain words

1. February 25, 2025Filed in the Senate and sent to the Commerce committee
2. February 26, 2025Senate subcommittee named: Bousselot, Knox and Webster
3. March 5, 2025Subcommittee recommended passing it with changes
4. March 10, 2025Approved by the Senate committee, and given a new number: SF 574