summary
Introduced
02/05/2026
02/05/2026
In Committee
02/05/2026
02/05/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
Requiring that undisputed retention proceeds retained by a unit or a certain contractor under a State procurement contract be paid within 90 days after the date of substantial completion.
AI Summary
This bill requires that any undisputed retention proceeds, which are portions of payment withheld from contractors or subcontractors as a guarantee of work completion, that are held by a state agency or a contractor under a state procurement contract must be paid out within 90 days after the project is substantially completed, meaning the work is mostly finished according to the contract. This change aims to ensure timely payment of these funds to those who have fulfilled their contractual obligations, with the bill taking effect on October 1, 2026.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Senate Budget and Taxation Hearing (13:00:00 2/24/2026 ) (on 02/24/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/SB0609?ys=2026RS |
| BillText | https://mgaleg.maryland.gov/2026RS/bills/sb/sb0609f.pdf |
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