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2018 Regular Session



Real Property - Construction Contracts - Retention Proceeds

Sponsored by:

Delegate Adams


In the Senate - Hearing 3/28 at 1:00 p.m.

Synopsis:Establishing that a certain remedy for the payment of an undisputed amount owed under a construction contract applies to certain retention proceeds; reducing from $250,000 to $100,000 the minimum contract amount for the purpose of the applicability of certain provisions of law relating to retention proceeds; and requiring certain retention proceeds to be paid within 30 days after the issuance of a final certificate of payment.
Analysis:Fiscal and Policy Note (Revised)
All Sponsors:Delegates Adams and W. Miller
Additional Facts:Bill File Type: Regular
Effective Date(s): October 1, 2018
Economic Matters  View Committee HearingJudicial Proceedings  View Committee Hearing
Broad Subject(s):Real Property
Narrow Subject(s):Construction
Contractors -see also- Heating & Cooling; Home Improvement
Contracts -see also- Land Installment Contracts; Procurement
Housing and Community Development, Department of
Housing -see also- Apartments; Condos; Mobile & Manuf Homes
Prices -see also- Consumer Price Index
Real Property
Statutes:Article - Real Property
(9-303, 9-304)

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March 29, 2018 5:01 P.M.