CONTRACTORS: Provides relative to payments to contractors and subcontractors

The deadline for owners to pay contractors was clarified to be within 'thirty-five consecutive days' instead of just 'thirty-five days'.

The daily penalty for late payments by owners was increased from an unspecified amount to 'one and a half percent of the amount due per day'.

New provisions were added to explicitly address accrued interest, contract nullity, and the right to a cause of action for non-payment.

The definition of a 'good faith dispute' was expanded to include disputes regarding whether work was performed in a proper manner under the contract.

The penalty for late payments now accrues starting after the payment deadline expires, rather than starting immediately when the contractor receives money from the owner.

The text was updated to explicitly include 'suppliers' as parties entitled to prompt payment and penalty protections, alongside contractors and subcontractors.

The definition of a 'good faith dispute' was updated to include disagreements about whether the work was performed properly according to the contract.

Replaced references to amending specific subsections (A through D and enacting E through G) with a single instruction to amend and reenact the entire section.