Provides for the issuance by the State Contractors' Board of a restricted license. (BDR 54-628)

Removed the provision that allowed any licensed contractor to perform unlicensed work up to a $2,500 limit, replacing it with a requirement to obtain a specific restricted license.

Added new eligibility criteria for restricted licenses, requiring applicants to have at least two years of experience, complete a business counseling course, and pass an entry-level examination.

Introduced mandatory bonding or cash deposit requirements (minimum $2,000) for applicants seeking a restricted license.

Added a directive for the State Contractors' Board to adopt specific regulations governing these licenses by January 1, 2027.

Deleted a provision regarding specific asbestos abatement limits that was present in the original draft.

Removed the requirement that applicants must pass an entry-level examination required by the Board.

Consolidated experience and education requirements into a single sentence, removing the separate mention of the examination.

Added specific regulatory requirements for the Board to establish a $7,000 monetary limit for restricted licenses and to set reasonable fees for issuance and renewal.

Clarified that restricted licenses are limited to work types authorized under existing B-7 subclassification regulations for general building contractors.

Added requirement for applicants to submit proof of completion of a business counseling course or similar curriculum within the year preceding application.