AN ACT TO ALLOW SUBCONTRACTORS ON PUBLIC CONTRACTS FOR CONSTRUCTION OR REPAIR WORK TO STORE MATERIALS AND EQUIPMENT RELATED TO A CONTRACT ON THEIR OWN PROPERTY OR IN AN OFF-SITE FACILITY.
Enacts new GS 143-134.2A allowing subcontractors performing construction work on any state building or for any county, municipality, or other public body to store materials and equipment on the subcontractor's own property or an off-site facility.
Enacts new GS 143-134.2B requiring public entities to pay a contractor, and the contractor to pay a subcontractor, funds due for materials and equipment after proof is given that the same are stored, insured, and available for use on the contract/subcontract.
Effective October 1, 2015, applying to contracts and subcontracts entered into on or after that date.
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