SB0074Introduced in the Senate
GOVT CONTRACT RETAINAGE
Introduced by Willie Preston, District 16
What does this bill do?
Plain-English breakdown
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Official description
Creates the State Agency Retainage Act. Provides that, if a State agency determines that satisfactory progress has not been achieved by a contractor or subcontractor during any period for which a payment is to be made, a percentage of the payment may be retained by the State agency. Prohibits the amount of retainage under the Act from exceeding 10% of the approved estimated amount under the terms of the contract until the contract is 50% completed. Prohibits retainage of more than 5% of the contract for the duration of the contract. Authorizes retainage to be adjusted as the contract approaches completion to recognize better than expected performance, the ability to rely on alternative safeguards, and other factors. Further provides that on completion of all contract requirements, amounts retained under the Act must be paid promptly. Defines the terms "retainage" and "State agency". Amends the State Prompt Payment Act. Specifies that the State Prompt Payment Act does not apply to retainage withheld under the State Agency Retainage Act.
Where it stands
Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
April 11, 2025
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
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Bill history
Filed with Secretary by Sen. Willie Preston
First Reading
Referred to Assignments
Assigned to Executive
Added as Co-Sponsor Sen. Dave Syverson
Added as Chief Co-Sponsor Sen. Seth Lewis
Added as Co-Sponsor Sen. Laura M. Murphy
To Procurement
Rule 2-10 Committee Deadline Established As April 11, 2025
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Willie Preston
Senate Committee Amendment No. 1 Referred to Assignments
Senate Committee Amendment No. 1 Assignments Refers to Executive
Senate Committee Amendment No. 1 To Procurement
Senate Committee Amendment No. 2 Filed with Secretary by Sen. Willie Preston
Senate Committee Amendment No. 2 Referred to Assignments
Rule 3-9(a) / Re-referred to Assignments
Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
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