New York Assembly bill in Session 2025-2026.
Status: in_committee. Latest action: May 1, 2026.
Increases the interest rate for late payments due on construction contracts; repealer.
Increases the interest rate for late payments due on construction contracts from one to two percent; includes a change order as part of the definition of construction contract; defines change order; repeals exceptions for lower Manhattan construction contracts.
| Date | Event | Detail |
|---|---|---|
| 2026-05-01 | Introduced | Bill introduced |
| 2026-05-01 | Status | in_committee |
| 2026-05-01 | Latest Action | In Assembly Committee |