View Amendment Current Amendment: 1 to Bill 4115

The Committee on Labor, Commerce and Industry proposes the following amendment (LC-4115.WAB0001H):

Amend the bill, as and if amended, SECTION 2, by striking Section 40-11-20(12)(14) and inserting:

(12)(14) "Licensee" means an entity which that has been issued either a general or mechanical contractor's license by the department.

Amend the bill further, SECTION 2, by striking Section 40-11-20(14)(16) and inserting:

(14)(16) "Mechanical contractor" means an entity which that performs or supervises, or offers to perform or supervise, mechanical construction.

Amend the bill further, SECTION 9, by striking Section 40-11-260(A) and inserting:

(A) An applicant for a general contractor's license or a general contractor's license renewal who performs or offers to perform contracting work for which the total cost of construction is greater than fiveten thousand dollars, and an applicant for license group revisions must provide an acceptable financial statement with a balance sheet date no more than twelve months before the date of the relevant application showing a minimum net worthmeeting the requirements for each license group as follows:

(1) Group One

(a) bids and jobs not to exceed $50,000.00 one hundred thousand dollars per job;

(b) required net worth of $10,000.00twenty thousand dollars or working capital of ten thousand dollars;

(c) on initial application, an owner-prepared financial statement on a form prescribed by the board with an affidavit of accuracy;

(d) on renewal, an owner-prepared financial statement on a form prescribed by the board with an affidavit of accuracy;

(2) Group Two

(a) bids and jobs not to exceed $200,000.00four hundred thousand dollars per job;

(b) required net worth of $40,000.00eighty thousand dollars or working capital of forty thousand dollars;

(c) on initial application, an owner-prepared financial statement on a form prescribed by the board with an affidavit of accuracy;

(d) on renewal, an owner-prepared financial statement on a form prescribed by the board with an affidavit of accuracy;

(3) Group Three

(a) bids and jobs not to exceed $500,000.00one million dollars per job;

(b) required net worth of $100,000.00two hundred thousand dollars or working capital of one hundred thousand dollars;

(c) on initial application, a financial statement compiled by a licensed certified public accountant or a licensed public accountant in accordance with Generally Accepted Accounting Principles (GAAP), including all disclosures required by GAAP indicating a required net worth of one hundred thousand dollarstwo hundred thousand dollars or working capital of one hundred thousand dollars;

(d) on renewal, an owner-prepared financial statement on a form prescribed by the board with an affidavit of accuracy indicating a required net worth of one hundred thousand dollarstwo hundred thousand dollars or working capital of one hundred thousand dollars, or a financial statement compiled by a licensed certified public accountant or a licensed public accountant in accordance with GAAP, including all disclosures required by GAAP, and indicating a required net worth of one hundred thousand dollarstwo hundred thousand dollars or working capital of one hundred thousand dollars;

(4) Group Four

(a) bids and jobs not to exceed $1,500,000.00three million dollars per job;

(b) required net worth of $175,000.00three hundred fifty thousand dollars or working capital of one hundred seventy-five thousand dollars;

(c) on initial application, a financial statement compiled by a licensed certified public accountant or a licensed public accountant in accordance with GAAP, including all disclosures required by GAAP indicating a required net worth of one hundred seventy-five thousand dollarsthree hundred fifty thousand dollars or working capital of one hundred seventy-five thousand dollars;

(d) on renewal, an owner-prepared financial statement on a form prescribed by the board with an affidavit of accuracy indicating a required net worth of one hundred seventy-five thousand dollarsthree hundred fifty thousand dollars or working capital of one hundred seventy-five thousand dollars, or a financial statement compiled by a licensed certified public accountant or a licensed public accountant in accordance with GAAP, including all disclosures required by GAAP, and indicating a required net worth of three hundred fifty thousand dollars or working capital of one hundred seventy-five thousand dollars;

(5) Group Five

(a) bids and jobs unlimited;

(b) required net worth of $250,000.00five hundred thousand dollars or working capital of two hundred fifty thousand dollars;

(c) on initial application, a financial statement audited an audited balance sheet prepared by a licensed certified public accountant or a licensed public accountant in accordance with GAAP, including all disclosures required by GAAP, and indicating a required net worth of five hundred thousand dollars or working capital of two hundred fifty thousand dollars;

(d) on renewal, a financial statement reviewed by a licensed certified public accountant or a licensed public accountant in accordance with GAAP, including all disclosures required by GAAP.

Amend the bill further, SECTION 13, by striking Section 40-11-360(A)(6), (7), (8), (9), (10), and (11) and inserting:

(6) An owner of nonowner-occupied property who improves the property or who builds or improves structures of less than five thousand square feet or other appurtenances on the property, either by himself or with the owner's employees, if all structural and mechanical work is performed by licensed contractors regardless of the cost of construction and if the work to be performed meets the threshold amount in Section 40-11-30 and if the property is not sold for two years after completion of the improvements. For purposes of this item, "structural" means foundation, pier, load-bearing partition, perimeter wall, internal wall exceeding ten feet in height, roof, floor, and any other work deemed by the board to be structural. "Mechanical" means work described in Section 40-11-410(5).

(7) An owner constructing a farm building or portable storage building with less than five thousand square feet of floor space and used only for livestock or storage.

(8) Public owners performing all or a portion of any work on a project themselves as long as the work performed falls within the limitations of a License Group 3 General Contractor or a License Group 4 Mechanical Contractor , as adjusted by an inflation factor reflecting the Department of Labor's Consumer Price Index.

(9) Renovations and maintenance projects of the South Carolina Department of Corrections whereby all labor is supplied from that department's own labor forces.

(10) The South Carolina Public Service Authority when performing maintenance and renovations to existing facilities and when performing work in accordance with Section 40-11-410(4)(n).

(11) The installation, repair, or maintenance of signs of billboards; provided, however, an electrical license is required to perform a final connection to a branch circuit conductor. The installation or modification of a branch circuit conductor is not considered a part of the installation, repair, or maintenance of a sign or billboard.

Amend the bill further, SECTION 14, by striking Section 40-11-410(1) and inserting:

(1) "General Contractors-Building" which includes commercial, industrial, institutional, modular, and all other types of building construction, including residential structures. This license classification includes all work under the subclassifications of Wood Frame Structures- Class II, Interior RenovationNonstructural Renovation, Masonry, Pre-engineered Metal Buildings, General Roofing, and Structural ShapesStructural Framing, and Miscellaneous Metals.