CONTRACTOR PROMPT PAYMENT ACT Senate SponsorsSen. Dan Rutherford 1/11/2005SenateSession Sine Die New ActCreates the Contractor Prompt Payment Act. Sets out provisions concerning prompt payment of contractors and subcontractors for building and construction contracts. Requires payments for building and constructions contracts to be made within 10 business days of the application for payment. Provides for penalties if civil enforcement is necessary to collect any payments wrongfully withheld. Effective immediately. 2/20/2003SenateFiled with Secretary by Sen. Dan Rutherford 2/20/2003SenateFirst Reading 2/20/2003SenateReferred to Rules 1/11/2005SenateSession Sine Die