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S980Senate2013-2014 SessionSame asA725

Prohibits the retention of any amount of payment due and owing for materials delivered and accepted for a public or private construction project

Sponsor Tom LibousSD-52+2 co-sponsorsAffects Finance
Status
In Senate Committee
Finance
Impact
Pending
Passage
Pending

Bill progress

Step 2 of 7

In committee · Finance

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Who cares

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Sponsors

Primary sponsor
Tom Libous

Senator · Senate District 52

History

  1. Print number 980a
  2. Amend and recommit to finance
  3. Referred to finance
  4. Returned to senate
  5. Died in assembly
  6. Referred to governmental operations
  7. Delivered to assembly
  8. Passed senateVote 55–8
  9. Advanced to third reading
  10. 2nd report cal.
  11. 1st report cal.518
  12. Referred to finance

Companion bill

The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.

A725Assembly

Prohibits the retention of any amount of payment due and owing for materials delivered and accepted for a public or private construction project

Assembly Floor Calendar · Sponsor Edward Braunstein

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

BILL NUMBER:S980A

Title of bill

An act to amend the state finance law and the general municipal law, in relation to requiring full payment for delivered and accepted materials pertaining to public work projects; and to amend the general business law, in relation to prohibiting the retention of any payment due and owing a material supplier for a construction project

Purpose or general idea of bill

This bill amends the state finance and general municipal laws, in relation to requiring full payment for delivered materials pertaining to public works projects; and to amend the general business law, in relation to prohibiting the retention of any payment due and owing a material supplier for a construction project.

Summary of specific provisions

Section 1: Amends the state finance law to clarify that materialmen are not subject to retainage.

Section 2: Amends the general municipal law to clarify that materialmen are not subject to retainage.

Section 3: Amends the current law to clarify that an owner, contractor, or subcontractor may not retain any portion of any payment due to a material supplier, except as set forth in subsection one of the law.

Currently, retainage is withheld on construction jobs to ensure that the owner is happy with the finished product. Retainage is withheld by the owner from the contractor, who, as a result of not receiving funds from the owner, withholds payment from the subcontractors and materialmen. Once a material supplier has delivered its goods and has been accepted by the contractor or subcontractor, the supplier has completed its job and should not be held liable for subsequent work performance. This legislation would remove materialmen from inclusion under current retainage laws.

Prior legislative history

S.6158: Committed to Rules

Fiscal implications

None to the State.

Effective date

This act shall take effect on the thirtieth day after it shall become law and shall apply to materials deliver on or after such date.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.