assembly Bill A967

Signed By Governor
2021-2022 Legislative Session

Relates to payment in construction contracts

download bill text pdf

Sponsored By

Current Bill Status Via S880 - Signed by Governor


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

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Actions

view actions (11)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 11, 2021 signed chap.128
delivered to governor
May 04, 2021 returned to senate
passed assembly
ordered to third reading cal.236
substituted for a967
May 04, 2021 substituted by s880
Apr 29, 2021 advanced to third reading cal.236
Apr 28, 2021 reported
Jan 12, 2021 reported referred to ways and means
Jan 06, 2021 referred to governmental operations

A967 (ACTIVE) - Details

See Senate Version of this Bill:
S880
Law Section:
State Finance Law
Laws Affected:
Amd §139-f, St Fin L; amd §106-b, Gen Muni L (as proposed in S.7664 & A.9117)

A967 (ACTIVE) - Summary

Relates to payment in construction contracts; specifies the meaning of "substantial completion" for the purposes of requisition payments in construction contracts.

A967 (ACTIVE) - Bill Text download pdf

 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                    967
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                                (PREFILED)
 
                              January 6, 2021
                                ___________
 
 Introduced by M. of A. CUSICK -- 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 payment in construction contracts

   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subdivision 1 of section 139-f of the state finance law, as
 amended by a chapter of the laws of 2020, amending the state finance law
 and  the  general  municipal  law  relating  to  payment in construction
 contracts, as proposed in legislative bills numbers S.7664  and  A.9117,
 is amended to read as follows:
   1. Payment by public owners to contractors. The contractor shall peri-
 odically,  in  accordance  with the terms of the contract, submit to the
 public owner and/or his agent a requisition for a progress  payment  for
 the  work performed and/or materials furnished to the date of the requi-
 sition, less any amount previously paid to the  contractor.  The  public
 owner  shall  in  accordance  with the terms of the contract approve and
 promptly pay the requisition for the progress  payment  less  an  amount
 necessary to satisfy any claims, liens or judgments against the contrac-
 tor which have not been suitably discharged and less any retained amount
 as hereafter described. The public owner shall retain not more than five
 per  centum  of  each progress payment to the contractor except that the
 public owner may retain in excess of five per centum but not  more  than
 ten  per centum of each progress payment to the contractor provided that
 there are no requirements by the public  owner  for  the  contractor  to
 provide  a  performance  bond  and a labor and material bond both in the
 full amount of the contract. The public owner shall pay,  upon  requisi-
 tion  from  the contractor, for materials pertinent to the project which
 have been delivered to the site or off-site  by  the  contractor  and/or
 subcontractor  and suitably stored and secured as required by the public
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets