NY S04750

Requires public owners to pay contractors in full for all materials delivered and accepted on public work projects, rather than allowing retention of 5-10% as currently permitted

Eliminates the ability of public owners to limit material payments only to items in "short and/or critical supply" or specially fabricated materials

Mandates that contractors pay materialmen in full upon receiving payment from the public owner for delivered materials covered by manufacturer's warranty or meeting industry standards

Prohibits any retention of payments due to material suppliers on private construction projects when materials have been delivered, accepted, and are covered by warranty or meet industry standards

Takes effect 30 days after becoming law and applies to materials delivered and accepted on or after the effective date