Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 04, 2012 |
referred to governmental operations |
Feb 10, 2011 |
referred to governmental operations |
Assembly Bill A5024
2011-2012 Legislative Session
Sponsored By
CUSICK
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Dennis H. Gabryszak
multi-Sponsors
Peter Rivera
Annette Robinson
2011-A5024 (ACTIVE) - Details
- See Senate Version of this Bill:
- S3181
- Current Committee:
- Assembly Governmental Operations
- Law Section:
- State Finance Law
- Laws Affected:
- Amd §139-f, St Fin L; amd §106-b, Gen Muni L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
A2347, S802
2013-2014: A1660, S1974
2015-2016: A4266, S2924
2017-2018: A5344, S5238
2019-2020: A5429
2011-A5024 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ S. 3181 A. 5024 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 Sens. DeFRANCISCO, JOHNSON, O'MARA -- read twice and ordered printed, and when printed to be committed to the Committee on Finance IN ASSEMBLY -- Introduced by M. of A. CUSICK, GABRYSZAK -- read once and referred to the Committee on Governmental Operations AN ACT to amend the state finance law and the general municipal law, in relation to release of subcontractor's retainage THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 2 of section 139-f of the state finance law, as amended by section 16 of part MM of chapter 57 of the laws of 2008, is amended to read as follows: 2. Payment by contractors to subcontractors. Within seven calendar days of the receipt of any payment from the public owner, the contractor shall pay each of his subcontractors and materialmen the proceeds from the payment representing the value of the work performed and/or materi- als furnished by the subcontractor and/or materialman and reflecting the percentage of the subcontractor's work completed or the materialman's material supplied in the requisition approved by the owner and based upon the actual value of the subcontract or purchase order less an amount necessary to satisfy any claims, liens or judgments against the subcontractor or materialman which have not been suitably discharged and less any retained amount as hereafter described. Failure by the contrac- tor to pay any subcontractor or materialman within seven calendar days of the receipt of any payment from the public owner shall result in the commencement and accrual of interest on amounts due to such subcontrac- tor or materialman for the period beginning on the day immediately following the expiration of such seven calendar day period and ending on the date on which payment is made by the contractor to such subcontrac- tor or materialman. Such interest payment shall be the sole responsibil- EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD00503-01-1
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