SF 574: A bill for an act relating to retention of fees for public improvement contracts. - Iowa

Enrolled with Governor's Action → Reprinted Marked Up · 4 edits

MODERATE

The bill was reprinted from its enrolled version to reflect the Governor's approval and signature, converting it from a draft legislative text into an official enacted law. The substantive policy content regarding fee retention for public improvement contracts remains unchanged, with only formatting, signature lines, and official state headers added.

Scope change

No change to the bill's scope or applicability; the document format changed from draft to enacted law with official signatures and state letterhead.

TECHNICAL

Added official state letterhead, date, Governor's approval signature, and Secretary of State transmission details.

Added certification language from Senate President and House Speaker confirming the bill originated in the Senate.

Added official filing information including Secretary of State contact details and document page references.

Changed document status from 'Enrolled' draft to 'Reprinted Marked Up' with Governor's approval notation.

Enrolled → Enrolled with Governor's Action · 1 edit · Apr 25, 2025

MINOR

The bill text was reformatted from a vertical, line-by-line layout to a standard horizontal paragraph format. No substantive policy changes were made to the retention fee percentages, contractor obligations, or fund disposition rules.

TECHNICAL

The document layout was changed from a vertical list of individual words to standard paragraph formatting with line numbers for readability and official filing.

Reprinted Marked Up → Reprinted · 3 edits

MINOR

The bill text was reformatted from a governor's signature page to a clean legislative reprint, removing administrative signatures and decorative elements while adding committee and filing metadata. The substantive policy content regarding fee retention for public improvement contracts remains unchanged.

TECHNICAL

Removed governor's signature page, date, and handwritten-style formatting elements that were part of the signed version but not needed in the legislative reprint.

Added committee attribution (Commerce Committee) and filing metadata (SF 574, page numbers, and amendment dates) to clarify the bill's legislative history.

Changed the bill title format from a descriptive header to a standard legislative act format, and renumbered sections for clarity.

Signed Enrolled Bill (PDF) → Enrolled · 2 edits · Apr 25, 2025

MINOR

This bill removes the handwritten signature and official seal from the Governor's signature page while keeping the legislative text intact. The core policy content regarding fee retention for public improvement contracts remains unchanged.

TECHNICAL

Removed handwritten signature block, governor's name, and official seal from the signature page.

Added clean formatted version of the bill text without handwritten annotations or signatures.

Introduced → Signed Enrolled Bill (PDF) · 5 edits · Apr 25, 2025

MODERATE

This bill updates Iowa's public improvement contract laws to clarify how retention fees and bonds are handled when contractors file claims. It adds new requirements for public corporations to pay contractors faster when claims are filed, allows principal contractors to use retention bonds instead of holding funds, and modifies interest accrual rules for unpaid amounts.

Scope change

The bill expands protections for contractors by adding new subsections to existing statutes governing public improvement contracts, specifically targeting retention fee retention periods and payment timelines.

REQUIREMENT

Public corporations must pay contractors the full retention amount or double the claim amount (whichever is less) within 20 days after receiving a surety bond filed by the general contractor.

Principal contractors can now post a retention bond equal to 5% of the original contract price to replace held retention funds, triggering immediate payment of all retained funds.

Section 573.12 was amended to allow contractors to retain up to 5% or 3% (whichever is less) from payments to subcontractors.

TIMELINE

Contractors must file a lawsuit to enforce claims within 30 days of receiving written demand, or the claim will be barred.

FISCAL

Interest accrual rules were updated to specify when interest begins accruing on unpaid amounts, starting on the 21st day after receipt of required documents.

A bill for an act relating to retention of fees for public improvement contracts.

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