Bill > HB327

This bill requires that undisputed retainage proceeds (a portion of payments withheld by the government or a contractor) under a state procurement contract be paid within 90 days after the date of substantial completion of the contract. The bill also specifies that the percentage of retainage withheld by the government or a contractor cannot exceed 5% of the total contract amount if the contractor has provided 100% payment and performance security, and that subcontractors cannot retain a higher percentage of payments from lower-tier subcontractors than the percentage retained by the primary contractor. The bill takes effect on October 1, 2021.

Health and Social Services

http://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0327?ys=2021RS