Gov. Christine Gregoire signed Senate Bill 6421 Thursday afternoon, a measure that will speed up the process of returning retainage to our state’s contractors and subcontractors more quickly to avoid potentially negative effects on a contractor’s bonding capacity and financial viability. Sen. Curtis King, R-Yakima, sponsored the bill, which received unanimous support from the Washington State Senate and House of Representatives.

“I’m very pleased the measure had so much support,” King said after the bill-signing. “The tough economy we find ourselves in hasn’t shown many signs of improvement, and this will help our state’s contractors by allowing them to have money returned to them faster so they can in turn reinvest it in their businesses.” Continue reading →