Public contracts.

Existing law requires state agencies to include a provision in solicitations and contracts, if the estimated amount to be retained exceeds $10,000 and the retention continues for a period of 60 days beyond the completion of phased services, to permit, upon written request and the expense of the contractor, the payment of retentions earned directly to a state- or federally chartered bank in this state, as the escrow agent. Existing law also provides an escrow agreement form that a contractor and state agency shall use for security deposits, and defines a "state agency" for purposes of these provisions. This bill would make a nonsubstantive change to that definition.