Virginia Senate bill in Session 2026.
Status: enacted. Latest action: April 8, 2026.
Contracts; retainage bonds permitted in construction contracts, effective clause.
Contracts; retainage bonds permitted in construction contracts. Allows, in any construction contract between an owner and a general contractor or between a general contractor and a subcontractor, such contractor or subcontractor to tender a retainage bond, defined in the bill, as a substitute for retainage withheld as security in such contracts.
| Date | Event | Detail |
|---|---|---|
| 2026-01-07 | Introduced | Bill introduced |
| 2026-04-08 | Status | enacted |
| 2026-04-08 | Latest Action | Acts of Assembly Chapter text (CHAP0485) |