S05655 Summary:

BILL NOS05655
 
SAME ASSAME AS A05405
 
SPONSORRYAN C
 
COSPNSR
 
MLTSPNSR
 
Amd §757, Gen Bus L
 
Voids provisions in construction contracts requiring retainage as expressly provided for by section seven hundred fifty-six-c of the general business law in an amount exceeding five percent of the contract sum.
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S05655 Actions:

BILL NOS05655
 
02/26/2025REFERRED TO CONSUMER PROTECTION
05/28/20251ST REPORT CAL.1412
05/29/20252ND REPORT CAL.
06/04/2025ADVANCED TO THIRD READING
06/11/2025SUBSTITUTED BY A5405
 A05405 AMEND= Hunter
 02/13/2025referred to economic development
 05/13/2025reported
 05/15/2025advanced to third reading cal.151
 05/22/2025passed assembly
 05/22/2025delivered to senate
 05/22/2025REFERRED TO CONSUMER PROTECTION
 06/11/2025SUBSTITUTED FOR S5655
 06/11/20253RD READING CAL.1412
 06/11/2025PASSED SENATE
 06/11/2025RETURNED TO ASSEMBLY
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S05655 Committee Votes:

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S05655 Floor Votes:

There are no votes for this bill in this legislative session.
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S05655 Memo:

Memo not available
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S05655 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          5655
 
                               2025-2026 Regular Sessions
 
                    IN SENATE
 
                                    February 26, 2025
                                       ___________
 
        Introduced  by  Sen. C. RYAN -- read twice and ordered printed, and when
          printed to be committed to the Committee on Consumer Protection
 
        AN ACT to amend the general business law, in relation to void provisions
          in construction contracts
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section  1.  Section  757  of  the  general business law is amended by
     2  adding a new subdivision 5 to read as follows:
     3    5. A provision, covenant, clause or understanding in, collateral to or
     4  affecting a  construction  contract  requiring  retainage  as  expressly
     5  provided  for by section seven hundred fifty-six-c of this article in an
     6  amount exceeding five percent of the contract sum.
     7    § 2. This act shall take effect immediately.
 
 
 
 
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD09177-01-5
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