Stipends shall be paid to unsuccessful teams, but state gets rights to use design in return for stipend, otherwise stipend is forfeited. Also clears up licensing issues. Prompt payment in private sector. Contractor may offer security as substitute for retainage and owner must then release retainage within 5 days. Similar provision for subs to offer security to contractors and, if so, then retainage released.
Contractor gets interest on security deposited in lieu of retainage.
Contractor cannot hold more retainage from subs than owner holds on contractor, with some exceptions. Unfair Home Improvement Loans Act. Deals with fairness in lending for home improvements. Revises bonding requirements for mortgage brokers. If a construction contractor performs less than satisfactory work on a state project, the contracting state agency may determine the contractor to be ineligible to contract for state projects for a specified period of time.