HB274

Hawaii HB274 mandates timely payments to subcontractors and outlines penalties for late payments.

Hawaii HB274 amends Chapter 444 of the Hawaii Revised Statutes to establish new requirements for contractors regarding payments to subcontractors. Contractors must pay subcontractors within thirty days of receiving an invoice, with penalties for late payments. If a contractor fails to pay within forty-five days, the subcontractor is entitled to reasonable attorney fees, fees or penalties incurred due to the late payment, and interest on any loans the subcontractor could not repay.