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.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2014-01-08 - REFERRED TO INFRASTRUCTURE AND CAPITAL INVESTMENT [S01217 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	1969-12-31	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for New York S01217

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for New York S01217 currently on file.