Increases amount of partial payment withheld by contracting unit for certain contracts entered into from two percent to 10 percent.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill changes the amount of partial payments that New Jersey contracting units must withhold from contractors for certain construction and maintenance contracts. Currently, the withholding rate is 2%, but the bill increases it to 10%. The bill also includes technical revisions to the existing law.
Bill text
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Document of record
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Sponsors
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1 on record
Primary sponsor
Joseph Cryan
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