Senate Bill S5483

2021-2022 Legislative Session

Requires a surety bond for contractors and subcontractors where no public fund has been established for the financing of a public improvement

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Judiciary Committee


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

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2021-S5483 (ACTIVE) - Details

See Assembly Version of this Bill:
A5767
Current Committee:
Senate Judiciary
Law Section:
Lien Law
Laws Affected:
Amd §5, Lien L
Versions Introduced in Other Legislative Sessions:
2019-2020: S5229, A5471
2023-2024: S3551, A4182

2021-S5483 (ACTIVE) - Summary

Requires a surety bond for contractors and subcontractors where no public fund has been established for the financing of a public improvement.

2021-S5483 (ACTIVE) - Sponsor Memo

2021-S5483 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5483
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                               March 8, 2021
                                ___________
 
 Introduced  by  Sen. BRESLIN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Judiciary
 
 AN ACT to amend the lien law, in relation to requiring a surety bond for
   contractors and subcontractors where no public fund  has  been  estab-
   lished for the financing of a public improvement

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 5 of the lien law, as amended by chapter 155 of the
 laws of 2004, is amended to read as follows:
   § 5. Liens under contracts for public improvements. A person  perform-
 ing  labor  for  or  furnishing  materials  to  a contractor, his or her
 subcontractor or legal representative, for the construction  or  demoli-
 tion  of  a public improvement pursuant to a contract by such contractor
 with the state or a public corporation, and  any  trust  fund  to  which
 benefits and wage supplements are due or payable for the benefit of such
 person  performing labor, shall have a lien for the principal and inter-
 est of the value or agreed price of such labor, including  benefits  and
 wage supplements due or payable for the benefit of any person performing
 labor,  or materials upon the moneys of the state or of such corporation
 applicable to the construction or demolition of such improvement, to the
 extent of the amount due or to become due on such contract, and under  a
 judgment  of  the  court of claims awarded to the contractor for damages
 arising from the breach of such contract by the state,  or  awarded  for
 furnishing labor or materials not contemplated by the provisions of said
 contract,  upon  filing  a notice of lien as prescribed in this article,
 except as hereinafter in this article provided. Where no public fund has
 been established for the financing of a public  improvement  with  esti-
 mated  cost  in  excess of two hundred fifty thousand dollars, the chief
 financial officer of the public owner shall require the  private  entity
 for  whom  the  public improvement is being made to post, or cause to be
 posted, a SURETY bond ISSUED BY A SURETY DULY LICENSED IN THE  STATE  OF
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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