senate Bill S3181

2011-2012 Legislative Session

Provides for release of subcontractor's retainage held by a public owner or contractor sixty days after substantial completion of work

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (14)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 21, 2012 committed to rules
May 07, 2012 advanced to third reading
May 02, 2012 2nd report cal.
May 01, 2012 1st report cal.666
Jan 04, 2012 referred to finance
returned to senate
died in assembly
Jun 22, 2011 referred to governmental operations
delivered to assembly
passed senate
May 04, 2011 advanced to third reading
May 03, 2011 2nd report cal.
May 02, 2011 1st report cal.419
Feb 10, 2011 referred to finance

Co-Sponsors

S3181 - Details

See Assembly Version of this Bill:
A5024
Current Committee:
Law Section:
State Finance Law
Laws Affected:
Amd §139-f, St Fin L; amd §106-b, Gen Muni L
Versions Introduced in 2009-2010 Legislative Session:
S802A, A2347A

S3181 - Summary

Provides for release of subcontractor's retainage held by a public owner or contractor sixty days after substantial completion of work.

S3181 - Sponsor Memo

S3181 - 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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