State Finance and Procurement - Retention Proceeds

SB 609 requires state procurement units and contractors to pay undisputed retention funds within 90 days after a construction project reaches substantial completion. It directly affects contractors, subcontractors, and state agencies like the Maryland Transportation Authority that withhold retention payments under state procurement contracts. The bill amends Maryland law to establish this 90-day deadline for undisputed retention proceeds, which are funds held as security during construction. This change applies to all state construction contracts governed by Title 17 of Maryland's Annotated Code.