Changes the maximum amount of retainage for certain state and local public works projects from: (1) 10% to 6% of the dollar value of all work satisfactorily completed until the public work is 50% complete; and (2) 5% to 3% of the dollar value of all work satisfactorily completed until the public work is substantially complete. Removes the requirement of a minimum amount of retainage for certain state and local public works projects.
us/states/in
Indiana General Assembly
2025
HB 1033
Indiana HB 1033 (2025)
bill
CIVIL LAW AND PROCEDURE; Contracts and Legal Documents
Changes the maximum amount of retainage for certain state and local public works projects from: (1) 10% to 6% of the dollar value of all work satisfactorily completed until the public work is 50% complete; and (2) 5% to 3% of the dollar value of all work satisfactorily completed until the public work is substantially complete. Removes the requirement of a minimum amount of retainage for certain state and local public works projects.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Enrolled House Bill (H) (committee substitute) — source