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Committee raises construction retainage threshold from $500,000 to $2 million in Senate Bill 76
2539381 · March 11, 2025
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Summary
The committee approved Senate Bill 76 to amend KRS 371.160 and raise the contract threshold that triggers retainage escrow from $500,000 to $2,000,000, citing inflation and construction cost changes since 1990.
Sen. Greg Elkins and a representative of the Associated General Contractors of Kentucky explained to the House standing committee on economic development that Senate Bill 76 would update a 1990 statutory threshold that governs retainage on construction contracts.
Under current law, a property owner may withhold retainage and place it in…
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