TO AMEND THE LAW CONCERNING FINANCIAL STATEMENTS REQUIRED TO BE SUBMITTED BY A LICENSEE OF THE CONTRACTORS LICENSING BOARD.
SB 186 increases the financial reporting threshold for contractors. It changes the requirement for licensees of the Contractors Licensing Board to submit financial statements from $750,000 to $1,500,000 for a single commercial project. This means contractors with projects under $1.5 million no longer need to submit these statements. The bill directly affects residential and commercial contractors whose individual projects meet or exceed the new $1.5 million threshold.
Bill status
signed
all 5 stages cleared
Introduction
Feb 2025
Committee Review
Feb 2025
Senate Passage
Mar 2025
House Passage
Mar 2025
Signed into Law
Mar 2025
Introduced Feb 3, 2025
Signed Mar 4, 2025
Maddy AI version diff · 1 comparison
What changed between versions
Act 235
→
SB 186
·
1 edit
MINOR
The bill text was reformatted from 'Act 235' to 'SB 186' with the approval date removed, indicating a procedural update rather than substantive policy changes.
TECHNICAL
Removed the approval date (3/4/25) and Act 235 designation, likely reflecting a renumbering or re-filing of the legislation.
Floor votes
How they voted
This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history
Actions timeline
Total actions
18
Key actions
7
Committee
2
Mar 4, 2025
Signed into law
Notification that SB186 is now Act 235
upper
Mar 3, 2025
Upper · Passed
Returned from the House as passed.
upper
Mar 3, 2025
Lower · Passed
Returned to the Senate as passed.
lower
Mar 3, 2025
Lower · Passed
Read the third time and passed and ordered transmitted to the Senate.
lower
Feb 27, 2025
Lower · Passed
Returned by the Committee Do Pass
lower
Feb 17, 2025
Upper · Passed
Read the third time and passed.
upper
Feb 11, 2025
Upper · Passed
Returned by the Committee with the recommendation that it Do Pass as amended, Amendment # 1
upper
Feb 3, 2025
Introduced
Filed
upper
2 primary · 0 co-sponsors
Sponsors
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