senate Bill S1974

2013-2014 Legislative Session

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

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Archive: Last Bill Status - Passed Senate


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

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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 10, 2014 referred to ways and means
delivered to assembly
passed senate
May 19, 2014 advanced to third reading
May 14, 2014 2nd report cal.
May 13, 2014 1st report cal.715
Jan 08, 2014 referred to finance
Jun 21, 2013 committed to rules
Apr 22, 2013 advanced to third reading
Apr 17, 2013 2nd report cal.
Apr 16, 2013 1st report cal.305
Jan 09, 2013 referred to finance

Votes

view votes

May 13, 2014 - Finance committee Vote

S1974
36
0
committee
36
Aye
0
Nay
0
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Finance committee vote details

Apr 16, 2013 - Finance committee Vote

S1974
34
0
committee
34
Aye
0
Nay
1
Aye with Reservations
0
Absent
1
Excused
0
Abstained
show Finance committee vote details

S1974 - Details

See Assembly Version of this Bill:
A1660
Current Committee:
Law Section:
State Finance Law
Laws Affected:
Amd §139-f, St Fin L; amd §106-b, Gen Muni L
Versions Introduced in Previous Legislative Sessions:
2011-2012: S3181, A5024
2009-2010: S802A, A2347A

S1974 - Summary

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

S1974 - Sponsor Memo

S1974 - Bill Text download pdf

                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

    S. 1974                                                  A. 1660

                       2013-2014 Regular Sessions

                      S E N A T E - A S S E M B L Y

                               (PREFILED)

                             January 9, 2013
                               ___________

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, GABRYSZAK  --  Multi-Spon-
  sored by -- M. of A. ROBINSON -- read once and referred to the Commit-
  tee 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-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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