OH HB203

Private owners of construction projects must pay contractors within 30 days of receiving a payment request, or 30 days after work is certified as complying with approved plans by a registered architect or engineer, whichever is later

Contractors must pay subcontractors and material suppliers within 10 calendar days after receiving payment from the owner; subcontractors have the same 10-day requirement for paying lower-tier subcontractors and material suppliers

Late payments incur 18% annual interest, and prevailing parties in civil actions to recover unpaid amounts are entitled to reasonable attorney fees and court costs

Provisions regarding interest, attorney fees, and court costs cannot be waived by contract, and any contract terms with longer payment periods or lower interest rates than specified in the law are overridden

The law excludes single-, two-, or three-family detached homes, as well as oil/gas/mineral exploration agreements, well or mine services, and pipeline-related agreements; the substantive provisions take effect six months after the bill's effective date