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House debates changes to Lien Recovery Fund; members split on caps for attorney fees and interest
Summary
Lawmakers debated first substitute House Bill 78, which would cap interest and attorneys' fees paid from the Residence Lien Recovery Fund; proponents said caps are needed to prevent insolvency, while opponents warned reduced recovery would leave small suppliers and subcontractors unable to secure counsel.
The House debated first substitute House Bill 78, a set of changes to the Residence Lien Recovery Act intended to reduce outgoing payments from the Lien Recovery Fund. Sponsors said the fund is paying out more than it takes in and that limiting interest and attorney fees is necessary to avoid insolvency and another assessment on contractors who pay into the fund. One sponsor described the fund's condition as "deterioration of the…
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