GOVERNMENT CONTRACT RETAINAGE Senate SponsorsSen. Willie Preston-Javier L. Cervantes-Ram Villivalam-Rachel Ventura-Mattie Hunter and Adriane Johnson 1/7/2025SenateSession Sine Die New ActCreates the Government Contract Retainage Act. Defines terms, including that "retainage" means a portion of money withheld from the payment of a contract for a specified period of time to ensure that a contractor or subcontractor finishes a construction project completely and finishes in the manner specified in the contract. Provides that interest shall accrue monthly on the first day of each month on retainage withheld by a governmental unit at a specified rate set by the State Treasurer. Requires retainage withheld by a governmental unit to be paid not more than 60 days after being retained, including interest accrued, unless the retainage was withheld on the last pay period of a project shall, which shall be paid not more than 120 days after being retained. Limits the concurrent exercise of home rule powers. 1/12/2024SenateFiled with Secretary by Sen. Ram Villivalam 1/12/2024SenateFirst Reading 1/12/2024SenateReferred to Assignments 1/26/2024SenateChief Sponsor Changed to Sen. Willie Preston 1/31/2024SenateAssigned to Executive 2/8/2024SenateAdded as Chief Co-Sponsor Sen. Javier L. Cervantes 2/8/2024SenateTo Subcommittee on Procurement 2/8/2024SenateAdded as Chief Co-Sponsor Sen. Ram Villivalam 2/20/2024SenateAdded as Co-Sponsor Sen. Rachel Ventura 2/20/2024SenateSponsor Removed Sen. Rachel Ventura 2/20/2024SenateAdded as Chief Co-Sponsor Sen. Rachel Ventura 2/21/2024SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter 2/23/2024SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Willie Preston 2/23/2024SenateSenate Committee Amendment No. 1 Referred to Assignments 2/28/2024SenateSenate Committee Amendment No. 1 Assignments Refers to Executive 3/7/2024SenateSenate Committee Amendment No. 1 To Subcommittee on Procurement 3/15/2024SenateRule 2-10 Committee Deadline Established As April 5, 2024 3/20/2024SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Willie Preston 3/20/2024SenateSenate Committee Amendment No. 2 Referred to Assignments 3/20/2024SenateSenate Committee Amendment No. 2 Assignments Refers to Executive 3/21/2024SenateSenate Committee Amendment No. 3 Filed with Secretary by Sen. Willie Preston 3/21/2024SenateSenate Committee Amendment No. 3 Referred to Assignments 4/5/2024SenateRule 2-10 Committee Deadline Established As May 3, 2024 4/9/2024SenateSenate Committee Amendment No. 3 Assignments Refers to Executive 4/9/2024SenateAdded as Co-Sponsor Sen. Adriane Johnson 4/10/2024SenateSenate Committee Amendment No. 2 To Subcommittee on Procurement 4/10/2024SenateSenate Committee Amendment No. 3 To Subcommittee on Procurement 4/12/2024SenateRule 2-10 Third Reading Deadline Established As May 3, 2024 5/3/2024SenateRule 2-10 Committee/3rd Reading Deadline Established As May 17, 2024 5/17/2024SenateRule 2-10 Committee Deadline Established As May 24, 2024 5/24/2024SenateRule 2-10 Committee/3rd Reading Deadline Established As May 25, 2024 5/25/2024SenateRule 2-10 Committee/3rd Reading Deadline Established As May 26, 2024 6/26/2024SenateSenate Committee Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments 6/26/2024SenateSenate Committee Amendment No. 2 Pursuant to Senate Rule 3-9(b) / Referred to Assignments 6/26/2024SenateSenate Committee Amendment No. 3 Pursuant to Senate Rule 3-9(b) / Referred to Assignments 6/26/2024SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments 1/7/2025SenateSession Sine Die