New York A07098 amends payment provisions for public owners, contractors, and subcontractors on public work projects.
New York A07098 amends the state finance law and the general municipal law to regulate payments by public owners to contractors and subcontractors on public work projects. It specifies that public owners must pay contractors periodically for work performed and materials furnished, subject to retainage. Contractors must pay subcontractors within seven days of receiving payment from the public owner, with interest accruing if not paid.
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