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Construction Project Amended Legislation Construction Contracts

Cozen O'Connor

New York Sets Maximum Construction Contract Retainage at 5% for Private Projects

Cozen O'Connor on

On November 17, 2023, Governor Kathy Hochul signed Senate Bill 3539, amending Section 756-a and Section 756-c of the New York General Business Law (more commonly referred to as the Prompt Payment Act) to set the maximum...more

Cole Schotz

New York Amends Its Law on Withholding of Retainage and Final Invoicing on Private Construction Projects

Cole Schotz on

On November 17, 2023, Governor Hochul signed a bill placing significant restrictions on the amount of retainage that can be withheld from contractors and subcontractors, and permitting the earlier submission of final billing...more

Winstead PC

2023 Texas Legislative Update: Residential Construction

Winstead PC on

HB 2024 - Statute of Repose Shortened to Six Years if a Builder Provides a Warranty - A statute of repose is the outside deadline for a claimant to bring a legal action. For nearly 50 years, Texas has imposed a ten-year...more

Jones Day

Amendments to Queensland Security of Payment Legislation

Jones Day on

The security of payment regime in Queensland has undergone significant reform in recent years. Since the introduction of the Building Industry Fairness (Security of Payment) Act 2017 (Qld), the regime has remained the subject...more

Smith Anderson

Significant Changes to the North Carolina Anti-Indemnity Statute

Smith Anderson on

North Carolina recently amended its “anti-indemnity” statute, which generally applies to construction-related contracts and agreements with design professionals. At a high level, the new law places additional restrictions on...more

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