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Other bills passed: retainage prohibition and consumer arbitration formatting among measures approved
Summary
Alongside high‑profile measures, the Assembly approved bills to prohibit certain retainage on graded/warranted materials, require larger font for mandatory arbitration clauses in consumer contracts, and other calendar items; recorded votes and voice votes are summarized below.
The Assembly approved several additional bills during the day’s session.
- Retainage prohibition (sponsor: Braunstein): The bill amends state finance, general municipal and general business laws to prohibit retainage on payments owed to material suppliers for delivered and accepted graded or warranted materials on public and private construction projects. Sponsor said retainage is commonly 5% (and up to 10% for public projects) and the bill protects suppliers who otherwise wait for payment. The measure passed on a recorded vote.
- Consumer arbitration clause formatting (sponsor: Dinowitz): The Assembly passed a bill requiring that mandatory arbitration clauses in consumer contracts be printed in larger font (16‑point). Some members noted that mandatory arbitration clauses in consumer contracts have been prohibited since 1984 and questioned the practical impact; the bill passed.
Both measures were passed by the Assembly during the session; recorded votes were announced in the floor record and the clerk reported passage for each calendar item.
