Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 05, 2022 |
referred to judiciary |
Mar 08, 2021 |
referred to judiciary |
Senate Bill S5483
2021-2022 Legislative Session
Sponsored By
(D, WF) 46th Senate District
Archive: Last Bill Status - In Senate Committee Judiciary Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
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- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2021-S5483 (ACTIVE) - Details
2021-S5483 (ACTIVE) - Sponsor Memo
BILL NUMBER: S5483 SPONSOR: BRESLIN TITLE OF BILL: An act to amend the lien law, in relation to requiring a surety bond for contractors and subcontractors where no public fund has been established for the financing of a public improvement PURPOSE OR GENERAL IDEA OF BILL: This legislation would provide contractors and subcontractors with payment protection on certain "hybrid" construction projects built in New York State. SUMMARY OF PROVISIONS: Amends Section 5 of the lien law, as amended by chapter 155 of the laws of 2004, to provide that where no public fund has been established for the financing of a public improvement with an estimated cost in excess of two hundred fifty thousand dollars, the chief financial officer of
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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