Senate Bill S2931

Vetoed By Governor
2015-2016 Legislative Session

Prohibits the retention of any amount of payment due and owing for materials delivered and accepted for a public or private construction project

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Archive: Last Bill Status Via A796 - Vetoed by Governor


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Vetoed By Governor
  • Signed By Governor

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2015-S2931 (ACTIVE) - Details

See Assembly Version of this Bill:
A796
Law Section:
State Finance Law
Laws Affected:
Amd §139-f, St Fin L; amd §106-b, Gen Muni L; amd §756-c, Gen Bus L
Versions Introduced in Other Legislative Sessions:
2011-2012: S6158, A8473
2013-2014: S980, A725
2017-2018: S4467, A358
2019-2020: S5498, A574
2021-2022: S1387, A494
2023-2024: S6855, A1194

2015-S2931 (ACTIVE) - Summary

Prohibits the retention of any amount of payment due and owing for materials delivered and accepted for a public or private construction project.

2015-S2931 (ACTIVE) - Sponsor Memo

2015-S2931 (ACTIVE) - Bill Text download pdf

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

                                  2931

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 30, 2015
                               ___________

Introduced  by  Sen.  LIBOUS -- read twice and ordered printed, and when
  printed to be committed to the Committee on Finance

AN ACT to amend the state finance law and the general municipal law,  in
  relation  to requiring full payment for delivered and accepted materi-
  als pertaining to public work projects; and to amend the general busi-
  ness law, in relation to prohibiting the retention of any payment  due
  and owing a material supplier for a construction project

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivisions 1 and 2 of section 139-f of the state  finance
law,  subdivision  1  as  added  by  chapter 769 of the laws of 1978 and
subdivision 2 as amended by section 16 of part MM of chapter 57  of  the
laws of 2008, are 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] ITS agent a requisition for a progress payment
for the work performed and/or materials furnished to  the  date  of  the
requisition,  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, NOT INCLUDING ANY PAYMENT FOR MATE-
RIALS  PERTINENT  TO THE PROJECT WHICH HAVE BEEN DELIVERED, ACCEPTED AND
ARE COVERED BY A MANUFACTURER'S WARRANTY,  AND/OR  ARE  GRADED  TO  MEET
INDUSTRY  STANDARDS,  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, NOT INCLUDING ANY PAYMENT FOR MATERIALS PERTINENT
TO  THE PROJECT WHICH HAVE BEEN DELIVERED, ACCEPTED AND ARE COVERED BY A
MANUFACTURER'S WARRANTY, AND/OR ARE GRADED TO MEET  INDUSTRY  STANDARDS,

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD02317-01-5
              

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