NY S00026 | 2021-2022 | General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 6 2021 - 25% progression, died in committee
Action: 2022-01-05 - REFERRED TO CONSUMER PROTECTION
Pending: Senate Consumer Affairs and Protection Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 6 2021 - 25% progression, died in committee
Action: 2022-01-05 - REFERRED TO CONSUMER PROTECTION
Pending: Senate Consumer Affairs and Protection Committee
Text: Latest bill text (Introduced) [HTML]
Summary
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.
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.
Sponsors
Sen. Anna Kaplan [D] |
History
Date | Chamber | Action |
---|---|---|
2022-01-05 | Senate | REFERRED TO CONSUMER PROTECTION |
2021-01-06 | Senate | REFERRED TO CONSUMER PROTECTION |
Same As/Similar To
A00771 (Same As) 2022-01-05 - referred to economic development