LD 757
Session - 127th Maine Legislature
LR 1040
Item 1
Bill Tracking, Additional Documents Chamber Status

An Act To Limit the Amount That May Be Retained on Construction Contracts

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 10 MRSA §1116, sub-§5  is enacted to read:

5 Limit.   Retainage may not exceed 5% of the contract price.


This bill limits the amount of money that may be retained under a construction contract, pending the completion of contractor or subcontractor performance, to 5% of the contract price.

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