The signed measure states that contractors, subcontractors, and suppliers who intentionally use entrusted project property for other purposes may face theft penalties.
The measure states that contractors, subcontractors, and suppliers who intentionally divert property entrusted for a real estate project may face theft penalties instead of using it to pay project workers or suppliers.
Contractors, subcontractors, and suppliers who meet the listed conditions would be guilty of theft. The rule covers property received or entrusted for improving real estate covered by the chapter. The person must intend to defraud. The person must use the property for a purpose other than paying for labor, skill, or materials used to improve that real estate. A person found guilty would be subject to the penalties listed in section 22-30A-17. The supplied enrolled text gives no effective date, so it does not establish when this rule would apply.
No hearings or votes scheduled.