TX HB2483

Requires contractors to deposit and hold retainage funds in an escrow account when a construction contract includes a retainage provision

Defines "retainage" as an amount or agreed percentage of money withheld from payment to a subcontractor until contract completion or an agreed-upon date

Escrow account funds must remain available to satisfy the contractor's payment obligations to subcontractors

Applies only to construction contracts entered into or renewed on or after September 1, 2025

Adds new Chapter 60 to Title 4 of the Business & Commerce Code