Bill Title: Provides for a reasonable amount of construction contract sum to be deposited in a separate interest bearing escrow account with a third party escrow agent; provides further that the owner shall be subject to the payment of interest, in addition to the escrow interest, at the rate of one percent per month and the contractor or subcontractor shall be subject to payment of interest on the amount of retainage it holds at the rate of one percent per month.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to economic development [A00488 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2019-01-09	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for New York A00488

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for New York A00488 currently on file.

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