Approved earlier this year, Nebraska LB961 becomes effective for any contracts entered into after July 17, 2014.

The prompt payment statute was amended, significantly changing the definition of contractors and subcontractors, the time frame in which the owner or the contractor shall pay retainage, the amount of retainage that can be held, and allows for damages and attorney fees for an entity who pursues a violation of the Nebraska Construction Prompt Pay Act. Click here for legislation



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