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Panel backs updates to Contractor Transaction Recovery Act to raise monetary limits and streamline fees
2124152 · January 16, 2025
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Summary
House Bill 1707, reported 7-0 by the subcommittee, would update the Contractor Transaction Recovery Act to raise monetary project limits for license classes, make a $25 application fee nonrefundable, and increase recovery fund caps to reflect inflation, supporters told the panel.
The House General Laws subcommittee voted 7-0 to report House Bill 1707, which updates monetary thresholds under the Contractor Transaction Recovery Act, changes the application fee process, and increases recovery amounts available to consumers.
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