NY S07522

Increases the threshold for minor public building work that can be delegated to agencies from one hundred fifty thousand dollars to two hundred thousand dollars.

Raises the maximum amount for work done by special order on state buildings from one hundred thousand dollars to two hundred thousand dollars, with no bond requirement for such orders.

Modifies state finance law to allow performance and payment bonds to be dispensed with for public improvement contracts under two hundred thousand dollars, regardless of whether multiple contract award requirements apply.

Allows twenty percent retention from progress payments when bonds are dispensed with, with up to seventy-five percent of retained amounts paid upon final contract completion and acceptance.