California Public Contract Code

§ 21568.9

PCC § 21568.9 Effective Jan 1, 2023Div. 2 · Part 3 · Ch. 1.5 · Art. 121.1

Statute text

If the district elects to award a project pursuant to this article, retention proceeds withheld by the district from the design-build entity or Construction Manager/General Contractor shall not exceed 5 percent if a performance and payment bond, issued by an admitted surety insurer, is required in the solicitation of bids.

Legislative history

Added by Stats. 2022, Ch. 275, Sec. 2. (AB 1845) Effective January 1, 2023.