The proposed bill would amend current statutes related to revitalization districts by introducing several new requirements and prohibitions regarding construction contract payments. Specifically, it would prohibit a revitalization district from utilizing any infrastructure until the contractor has been fully paid, and it would prevent the dissolution of a district if it owes money to a licensed contractor for infrastructure work. Additionally, the bill stipulates that all outstanding payments to contractors must be settled before a district can be dissolved, and any agreements between landowners and the district regarding repayment must also ensure that contractors are fully compensated.

Furthermore, the bill places liability on the county or municipality that authorized the district for any unpaid payments owed by the district for construction. It mandates that these entities monitor and audit construction contract payments and allows them to impose penalties for non-compliance. The bill also requires that all construction contracts comply with existing statutes governing prompt payment for public works projects, thereby reinforcing timely compensation for contractors involved in public infrastructure projects.

Statutes affected:
Introduced Version: 48-708, 48-709, 48-719, 48-720, 9-500.05, 11-1101, 32-2183