S T A T E O F N E W Y O R K
S. 3182 A. 5025
2011-2012 Regular Sessions
S E N A T E - A S S E M B L Y
February 10, 2011
IN SENATE -- Introduced by Sen. DeFRANCISCO -- read twice and ordered
printed, and when printed to be committed to the Committee on Finance
IN ASSEMBLY -- Introduced by M. of A. CUSICK, MAGNARELLI, TITONE -- read
once and referred to the Committee on Codes
AN ACT to amend the state finance law, in relation to amending the date
for commencing an action on a bond
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Paragraph (b) of subdivision 4 of section 137 of the state
finance law, as amended by chapter 242 of the laws of 2002, is amended
to read as follows:
(b) Except as provided in section two hundred twenty-g of the labor
law, no action on a payment bond furnished pursuant to this section
shall be commenced after the expiration of one year from the date on
which [final payment under the claimant's subcontract became due] THE
PUBLIC IMPROVEMENT HAS BEEN COMPLETED AND ACCEPTED BY THE PUBLIC OWNER.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.