The recently enacted Inflation Reduction Act of 2022 contains several new environment-related tax credits that are of interest to individuals and small businesses. The Act also extends and modifies some preexisting credits.
Before the enactment, homeowners and business owners were allowed a personal credit for specified
Contractors learned many lessons from 2020-2022 on material/labor availability, price escalation, and contractual allocations of risk. Prudent contractors will consider this in contracts moving forward.
Long gone are the days of large projects that are simply private or public. Large projects are multi-layered when it comes to funding. Federal, state, and
Supply chain interruptions are reaching critical levels and suspending work on projects. Shortages of bridge coating materials is the most recent area of concern and could be potentially catastrophic to unprepared contractors and owners. The inability to obtain materials may force painting contractors into a position where they cannot advance painting work, cannot retain painting
New York Governor Kathy Hochul recently signed into law an amendment to New York Labor Law that holds prime and general construction contractors jointly and severally liable for unpaid wages, benefits, and wage supplements owed by a subcontractor at any tier to the subcontractor’s employees.
Read more about this new law in this legal alert
Yesterday, the Ohio House of Representatives passed a bill (H.B. No. 68) that would amend Ohio’s Prompt Pay Act (ORC Section 4113.61) to provide general contractors with payment protection akin to that currently enjoyed by subcontractors under the Act. HLP construction attorney Sonja Rice discusses the details of this bill in a recent Legal Alert
Join Hahn Loeser and our friends from Foundation Software for a complimentary four-part legal series for the construction industry on a range of important topics. To register for each session, please click on the title of the topics below.
Session 1: The Road Ahead for Contractors: Predictions of What to Expect in 2021
Thursday, March
In order to encourage and support the growth of minority and socially and economically disadvantaged businesses, the State of Ohio implemented several business assistance programs to foster the development of these businesses and increase the number of qualified competitors in the marketplace. Generally, these programs require Ohio state agencies to award a certain percentage of
The recent increasing price of lumber may be the single biggest threat to affordable housing in the United States, not to mention the threat it poses to the U.S. economy. Covid-19, which spurred an upsurge in home renovation projects and a drop in financing rates for new home builds, has caused a contemporaneous increase in
We want to thank Foundation Software for inviting us to present a three-part webinar series for their clients. You can view each of these complimentary sessions and access the slides at the links below.
Part 1: Make the Most of the Coronavirus Paycheck Protection Program (“PPP”) Loans
Presented on Friday, April 24 at 1 p.m.
Recent guidance from the U.S. Small Business Administration (“SBA”) is causing some businesses to reconsider whether they are eligible for Paycheck Protection Program (“PPP”) loans and to contemplate returning loans they have already received.
The PPP, part of the $2.2 trillion federal stimulus bill enacted in response to COVID-19, was intended to provide low-interest, forgivable