Raised Bill No. 5373 - Summary

• Prohibits contractors from requiring owners to deposit more than one-half of the total contract price upfront and bars offering allowances, compensation, or discounts related to insurance deductibles as inducements for contracts.

• Requires contractors to notify the Commissioner of Consumer Protection within 30 days of any changes to business name, trade name, or primary residence or business address.

• Mandates home improvement contracts include detailed information such as itemized work descriptions, cash prices, contractor credentials, insurance details, payment method options, and at least two cancellation forms with a three-day cancellation period.

• Expands registration application requirements to include Social Security numbers, business telephone and email addresses, information on affiliated entities, and disclosure of prior certificate suspensions or revocations.

• Adds new grounds for the Commissioner to deny, suspend, or revoke contractor certificates, including failure to maintain required insurance coverage and failure to pay state fees or taxes.

• Effective October 1, 2020.