This bill proposes updates to the statutes governing revitalization districts, specifically focusing on construction contracts. Under the current law, revitalization districts have the authority to enter into contracts for infrastructure purposes. The bill adds new requirements for these construction contracts, mandating that they include provisions allowing contractors and subcontractors to suspend or terminate their contracts under specific conditions, such as failure of the district to make timely payments. It also stipulates that written notice must be provided before any suspension or termination, with specified notice periods depending on the circumstances.

Additionally, the bill introduces provisions for the award of reasonable attorney fees to the successful party in disputes related to these contracts and clarifies how written notices are deemed provided. The new requirements will apply prospectively to any revitalization district infrastructure construction contracts executed after the bill's effective date, thereby modernizing the legal framework to better protect the interests of contractors and subcontractors involved in these projects.

Statutes affected:
Introduced Version: 48-6808
House Engrossed Version: 48-6808