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OK SB739
Bill
Status
2/3/2025
Primary Sponsor
Jack Stewart
Click for details
AI Summary
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Public construction contracts shall withhold up to 5% retainage on partial payments until the project is 50% complete, then reduce retainage to 2.5% for the balance of work.
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The Department of Transportation and Oklahoma Turnpike Authority are prohibited from withholding retainage on public construction contracts they award.
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The Department of Transportation shall not withhold retainage or require bonds on projects awarded to railroads on the railroad's privately owned or operated rail property.
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Construction contracts or subcontracts subject to a bond shall not withhold retainage.
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The act becomes effective November 1, 2025.
Legislative Description
Construction contracts; prohibiting certain entities from withholding retainage for certain contracts. Effective date.
Last Action
Coauthored by Representative West (Kevin) (principal House author)
2/20/2025