By Thomas J. Kelleher, Jr., Smith, Currie & Hancock LLP In 2006 Congress added Section 3402(t) to the IRS Code (26 CFR Part 31).  That section provides that the Government of the United States, every State, every political subdivision thereof, and every instrumentality of the foregoing (including multi-State agencies) making any payment to any person providing any property or services on a public project (including any payment made in connection with a public program) shall withhold 3% from all payments as a guard against possible business tax evasion. 

President Obama signed H.R. 4 into law, a bill supported by AGC that repeals the 1099 reporting requirement that would have required all businesses to submit Form 1099s to the IRS and to any business with which it purchased $600 or more in goods or services in a year, creating a tremendous paperwork and compliance burden for businesses of all sizes. 

AGC's Specialty News is focused on informing AGC specialty contractor members of Specialty Contractors Council activities, important industry issues that affect your business, and market trends. 

Specialty contractors from across the country attended the AGC of America 92nd Annual Convention this week in Las Vegas.  The Specialty Contractors Council (SCC) Executive Committee met to discuss future initiatives and the SCC sponsored a session and reception on March 22.

The General Services Administration was assigned $5.5 billion worth of construction projects under the Recovery Act – of that, more than a half billion dollars has been saved and is set to be redistributed to other very necessary federal projects.

The leading indicator of nonresidential construction activity, the U.S. architecture billings released by the American Institute of Architects, was up more than 2 points in December, taking the reading from 52.0 to 54.2. Any reading over 50 is said to indicate expansion 9 to 12 months in the future.

Join your colleagues March 21-25, 2011 in Las Vegas for AGC of America's 92nd Annual Convention.  AGC’s Annual Convention delivers the working knowledge contractors need to improve operations, expand into new markets and build their business. 

Based on the Construction State Law Matrix, AGC has updated maps showing which states, as well as the District of Columbia and Puerto Rico, permit Construction Management At-Risk (i.e. CMAR, CM At-Risk, CM@R, CM/GC, GC/CM, CMc) under state law for vertical and horizontal construction projects.  Click here to view this free resource.

Originally written in 1999, a task force of AGC members updated and completed the AGC Guide to Construction Financing-Second Edition (PDF).  This 26-page publication clearly explains the construction financing process and points out some of the opportunities and pitfalls for the contractor. It is intended to serve a reference to get contractors thinking about the risks associated with project financing.

www.ConsensusDOCS.orgConsensusDOCS offers a variety of free resources to help you conduct business, including detailed information on project delivery options and sample contracts.Articles - a variety of topics are covered including IPD, BIM, green building, federal subcontracting and much more, with new additions on a regular basisComparison Matrix - ConsensusDOCS/AIA/AGC, helps you convert from AGC or AIA documents to ensure you get the proper ConsensusDOCS documentConsensusDOCS Guidebook - assists you with completing contract documentsContract Catalog and Product Brochure - helps you determine the proper contract documents for your projectCopyright Licenses - provides you with free use of ConsensusDOCS for educational purposesExcerpted Sample Contracts - for complete samples email Info@ConsensusDOCS.orgLegal Comparisons - articles and matrices that compare ConsensusDOCS, AIA and EJCDC contract clausesOwners Brochure - helps you inform Owners why their project needs ConsensusDOCSPodcasts/Audio Recordings - issues include Green Building, Federal Subcontracting, Subsubcontracting, with more to comePress Releases - so you know the latest news from ConsensusDOCSVisit the ConsensusDOCS Web site to download these free resources and more at www.ConsensusDOCS.org.ConsensusDOCS are the only standard contract documents written by a coalition of 28 leading construction industry associations, including The Associated General Contractors of America.AGC members receive a 20% discount on all ConsensusDOCS products.  Purchase at www.ConsensusDOCS.org and use Partner Code "AGC" and Promotion Code "100".For more information, contact Megan McGarvey at (703) 837-5369 or mcgarveym@agc.org.