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NY A04905
Bill
Status
2/10/2025
Primary Sponsor
Pamela Hunter
Click for details
AI Summary
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Requires a surety bond issued by a licensed New York surety or an irrevocable letter of credit for public improvement projects exceeding $250,000 where no public fund has been established for financing
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Bond or letter of credit must equal the full cost of the construction work, replacing the previous allowance for "other forms of undertaking"
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Guarantees prompt payment to contractors, subcontractors, and all persons furnishing labor or materials for public improvement projects
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Updates gendered language ("his or her") to gender-neutral terminology ("their") throughout the lien law provisions
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Applies to contracts entered into on or after the effective date, with immediate effect upon passage
Legislative Description
Requires a surety bond for contractors and subcontractors where no public fund has been established for the financing of a public improvement.
Last Action
referred to judiciary
1/7/2026