HI SB2872

Increases the maximum recovery amount per contract from the Contractors Recovery Fund from $12,500 to $25,000 for persons injured by violations of contractor licensing laws.

Increases the maximum liability cap for the Contractors Recovery Fund from $25,000 to $50,000 for any single licensed contractor.

Recovery from the fund remains limited to actual damages, court costs, and reasonable attorney fees as determined by the court.

Excludes recovery for claims against contractors whose license was suspended, revoked, forfeited, terminated, or inactive at the time the contract was entered.

Takes effect July 1, 2050, with automatic repeal on June 30, 2023, returning the law to its prior form.