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Bricker Graydon LLP

Significant Changes in Ohio Law for Public Construction Projects

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The Ohio General Assembly made several changes to Ohio law that will impact public construction projects through House Bill 96 (“HB 96”), which is the state’s biennial operating budget. The new law becomes effective on...more

Holland & Knight LLP

New York's 5 Percent Retainage Law Underscores Construction Contract Drafting

Holland & Knight LLP on

New York Gov. Kathy Hochul on Nov. 17, 2023, signed Senate Bill S3539 (Retainage Amendment), which amended Sections 756-a and 756-c of the New York General Business Law, commonly referred to as the Prompt Payment Act. The...more

Venable LLP

New Law Sets Maximum Construction Contract Retainage at 5% in New York

Venable LLP on

On November 17, 2023, Governor Kathy Hochul signed a bill into law amending Sections 756-a and 756-c of the New York State Prompt Payment Act (N.Y. Gen. Bus. Law §756 (McKinney 2009)) governing restrictions on retainage and...more

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