Increases amount of partial payment withheld by contracting unit for certain contracts entered into from two percent to 10 percent.

This bill (S 3830) increases the percentage of partial payments withheld by government contracting units from 2% to 10% for certain construction contracts. It directly affects contractors working on projects over $100,000 involving building construction, repair, or maintenance, where the contractor agrees to the withholding. The key provision requires contracting units to withhold 10% of each partial payment until the contract is fully completed and accepted, after which all withheld funds must be released within 45 days. The bill also updates related requirements for maintenance bonds after project completion.