New YorkIncreases the interest rate for late payments due on construction contracts; repealer
What it does
Increases the interest rate for late payments due on construction contracts from one to two percent; includes a change order as part of the definition of construction contract; defines change order; repeals exceptions for lower Manhattan construction contracts.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 1REFERRED TO GOVERNMENTAL OPERATIONSIntroduced