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 6-0)

Status: (Introduced - Dead) 2010-06-30 - SUBSTITUTED BY A2279 [S00754 Detail]

Text: Not Available

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Neil Breslin [D]	Sponsor	Sponsored Bills	SD-046	FollowTheMoney	Ballotpedia	VoteSmart
Senator Shirley Huntley [D]	Sponsor	Sponsored Bills	SD-010	FollowTheMoney	Ballotpedia	VoteSmart
Senator Eric Schneiderman [D]	Sponsor	Sponsored Bills	SD-031	FollowTheMoney	Ballotpedia	VoteSmart
Senator William Stachowski [D]	Sponsor	Sponsored Bills	SD-058	FollowTheMoney	Ballotpedia	VoteSmart
Senator Toby Stavisky [D]	Sponsor	Sponsored Bills	SD-011	FollowTheMoney	Ballotpedia	VoteSmart
Senator Antoine Thompson [D]	Sponsor	Sponsored Bills	SD-060	FollowTheMoney	Ballotpedia	VoteSmart

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