SB 1587: RELATING TO RETAINAGE.
- Session Year: 2025-2026
- House: Senate
Current Status:
In Progress
(2025-02-14: Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.)
Introduced
First Committee Review
First Chamber
Second Committee Review
Second Chamber
Final Decking
Enacted
Version:
Allows procurement officers to withhold a retainage fee of one per cent of the total budget from contractors to ensure satisfactory project completion. Requires the retainage fee to be paid to contractors within a certain number of days of project completion.