Relating to an account for construction retainage.

HB 2483 requires contractors to place construction retainage (money withheld from payments until project completion) into a separate escrow account instead of holding it directly. This applies only to new contracts entered into or renewed on or after September 1, 2025, affecting contractors and subcontractors in Texas construction projects. The bill ensures retainage funds are held securely to satisfy payment obligations to subcontractors upon project completion, without changing how much retainage is withheld.