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Contracts; retainage bonds permitted in construction contracts. Allows, in any construction contract between an owner and a general contractor or between a general contractor and a subcontractor, such contractor or subcontractor to tender a retainage bond, defined in the bill, as a substitute for retainage withheld as security in such contracts. The provisions of the bill do not become effective unless reenacted by the 2027 Session of the General Assembly.
Introduced
Jan 7, 2026
Last Action
Mar 10, 2026
Session
VA 2026
Sponsors
1 primary · 0 co
Enrolled Bill communicated to Governor on March 10, 2026
Governor's Action Deadline 11:59 p.m., April 13, 2026
Signed by President
Signed by Speaker
Bill text as passed Senate and House (SB165ER)
Enrolled
Read third time
Passed House (97-Y 0-N 0-A)
Read second time
Reported from General Laws (21-Y 0-N)
Subcommittee recommends reporting (10-Y 0-N)
Assigned HGL sub: Procurement/Open Government
Referred to Committee on General Laws
Placed on Calendar
Read first time
Read third time and passed Senate (39-Y 0-N 0-A)
Read second time
Engrossed by Senate as amended Block Vote (Voice Vote)
General Laws and Technology Amendment agreed to
Rules suspended
Passed by for the day Block Vote (Voice Vote)
Constitutional reading dispensed Block Vote (on 1st reading) (38-Y 0-N 0-A)
Reported from General Laws and Technology with amendment (15-Y 0-N)
Referred to Committee on General Laws and Technology
Introduced bill reprinted 26101912D
Prefiled and ordered printed; Offered 01-14-2026 26101912D
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Governor's Action Deadline 11:59 p.m., April 13, 2026
Jeremy S. McPike