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benefit (ii), then only the death benefit provided in subparagraph (i) of this paragraph shall be paid.

§ 4. This act shall take effect immediately and shall be deemed to have been in full force and effect on and after July 22, 1990.

FISCAL NOTE. - This bill would amend legislation which currently allows certain service retirees of the New York public retirement systems earn additional pension benefits from a second career in a different New York public retirement system. Insofar

this bill would affect the New York State and Local Employees' Retirement System, it would allow at least 85 additional members to transfer their retired service to the New York State and Local Employees' Retirement System. In addition, for those members who have not worked continuously in public service since their date of retirement, the reduction in the new retirement allowance for retirement allowances already received would be reduced to only those years worked following retirement.

The increased costs of this legislation relating to the New York State and Local Employees' Retirement System will be shared by the State and all participating employers in the New York State and Local Employees' Retirement System.

This estimate, dated March 16, 1992 and intended for use only during the 1992 Legislative Session, is fiscal Note No. 92-225 prepared by the Actuary for the New York State and Local Employees' Retirement System.

FISCAL NOTE. - This bill would amend Chapter 666 of the Laws of 1990 as follows:

(1) Retirees of a New York City retirement system would continue to be covered by their health insurance plans;

(2) Upon a retiree's second retirement, his second retirement allows ance would be reduced by the actuarial equivalent of benefits received while he was in public service, as opposed to all benefits received;

(3) A retiree who was subsequently employed in two or more positions could receive credit for all public service rendered after his initial retirement;

(4) A retiree whose subsequent public service began while he was on terminal leave from his uniformed position would be eligible to benefit from the provisions of Chapter 666; and

(5) Retirees will be permitted to elect to be covered by this legislation until July 22, 1993.

The additional pension cost entailed by items (2), (3) and (4) above is not expected to bring the total annual cost to

amount significantly in excess of the amount of $ 200,000 quoted as the annual cost of Chapter 666 of the laws of 1990.

This fiscal note was prepared by Jonathan Schwartz, Consulting Actuary, Jardine Consultants Inc.

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CHAPTER 659

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AN ACT amend the vehicle and traffic law, in relation to requiring

the commissioner of motor vehicles to notify motor carriers of vehicle convictions against bus di vers employed by such carriers Became a law July 31, . 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

Section 1. Subdivision 4 of section 509-i of the vehicle and traffic law, as added by chapter 675 of the laws of 1985, is amended to read follows:

4. In addition to the requirements of subdivision three of this sec tion, the commissioner shali (upon the request of the motor carrier and after payment of the fee necessary to defray the cost of the notification,] notify the motor carrier of any conviction for any traffic violation resulting from operation of a motor vehicle against a bus driver employed by the motor carrier, shall require payment of the fee

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sary to defray the cost of the notification, and shall require all motor
carriers to establish an escrow account with the department which shall
be used to pay for the costs incurred by the department when it informs
the motor carrier of a driver's conviction; and may, if requested by
political subdivision which contracts with motor carrier for the
transportation of school children, provide such notice to the political
subdivision.

§ 2. This act shall take effect on the first day of September next
succeeding the date on which it shall have become a law.

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AN ACT to amend the vehicle and traffic law, in relation to authorizing

license plates commemorating the World University Games
Became a law July 31, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present.
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:

Section 1. The vehicle and traffic law is amended by adding a new sec-
tion 404-k to read as follows:

§ 404-k. Distinctive license plates commemorating the World University Games. 1. Any person shall upon request be issued a license plate memorating the World University Games bearing the name and logo of the World University Games. The arrangement of the name and logo such license plate shall be in the sole discretion of the commissioner.

2. A distinctive plate issued pursuant to this section shall be issued
in the same manner as other number plates upon payment of the regular
registration fee prescribed by section four hundred one of this article
and an additional annual service charge of forty dollars.

3. Of the forty dollar annual service charge collected by the commis-
sioner pursuant to subdivision two of this section, twenty-five dollars
shall be transmitted to the comptroller for deposit into the general
fund of the Greater Buffalo Athletic Corporation.
§ 2. This act shall take effect immediately.

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CHAPTER 661

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AN ACT to amend the general municipal law, in relation to providing in

terest to contractors upon late payment by a public owner, and provid-
ing interest to subcontractors and materialmen upon late payment by a
contractor, and providing for the repeal of such provisions upon the
expiration thereof
Became a law July 31, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present.
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:

Section 1. Section 106-b of the general municipal law, as added by
chapter 769 of the laws of 1978 and subdivision 2 as amended by chapter
884 of the laws of 1983, is amended to read as follows:

§ 106-b. Payment on public work projects. Notwithstanding the provişions of any other law to the contrary, all contracts made and awarded by the appropriate officer, board or’agency of a political subdivision EXPLANATION—Matter in italics is new; matter in brackets [ ] is old law

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or of any district therein, hereafter referred to as the public owner, for construction, reconstruction or alteration of any public work project shall provide' for payment by the public owner to the contractor and payment by the contractor to the subcontractor in accordance with the following:

1. Payment by public owners to contractors. (a) The contractor shall periodically, in accordance with the terms of the contract, submit to the public owner and/or his agent a requisition for a progress payment for the work performed and/or materials furnished to the date of the requisition less any amount previously paid to the contractor. The public owner shall in accordance with the terms of the contract approve and promptly pay the requisition for the progress payment less an amount necessary to satisfy any claims, liens or judgments against the contractor which have not been suitably discharged and less any retained amount as hereafter described. The public owner shall retain not

than centum of each progress payment to the contractor except that the public owner may retain in excess of five per centum but not than ten per centum of each progress payment to the contractor provided that there are no requirements by the public owner for the contractor to provide performance bond and a labor and material bond both in the full amount of the contract. The public owner shall pay, upon requisition from the contractor, for materials pertinent to the project which have been delivered to the site or off-site by the contractor and/or subcontractor and suitably stored and secured' as required by the public owner and the contractor provided, the public owner

may limit such payment to materials in short and/or critical supply and materials specially fabricated for the project each as defined in the contract. When the work or major portions thereof as contemplated by the terms of the contract are substantially completed, the contractor shall submit to the public owner and/or his agent à requisition for payment of the remaining amount of the contract balance. Upon receipt of such requisition the public owner shall approve and promptly pay the remaining amount of the contract balance less two times the value of any remaining items to be completed and an amount necessary to satisfy any claims, liens or judgments against the contractor which have not been suitably discharged. As the remaining items of work are satisfactorily completed or corrected, the public owner shall promptly pay, upon receipt of a requisition, for these items less an amount necessary to satisfy any claims, liens or judgments against the contractor which have not been suitably discharged. Any claims, liens and judgments referred to in this section shall pertain to the project and shall be filed in accordance with the terms of the applicable contract and/or applicable laws. Where the public owner is other than the city of New York, the term

term "promptly pay" shall mean payment within forty-five days, excluding legal holidays, of receipt of the requisition unless such requisition is not approvable in accordance with the terms of the contract. (b) Each public

other than the city of New York which is required to make a payment from public funds pursuant to a contract and which does not make such contract payment by the required payment date shall make an interest payment to the contractor on the amount

of the contract payment which

is due unless failure to make such contract payment is the result of a lien, attachment, or other legal process against the money due said contractor, or unless the amount of the interest payment as computed in accordance with the provisions

set forth hereinafter is less than ten dollars. Interest payments on amounts due to a contractor pursųant to this paragraph shall be paid to the contractor for the period beginning on the day after the required payment date and ending on the payment date for those payments required according to this section and shall be paid at the rate of interest in effect on the date when the interest payment is made. Notwithstanding any other provision of law to the contrary, interest shall be computed at the rate equal to the overpayment rate set by the commissioner of

taxation and finance pursuant to subsection (e) of section one thousand ninety-six of the tax law. A pro rata share of such interest shall be paid by the con; tractor or subcontractor, the case may be, to subcontractors and materialmen in a proportion equal to the percentage of their pro rata share of the contract payment. Such pro rata share of interest shall be due to such subcontractors and materialmen only for those payments which

not paid to sạch subcontractors and materialmen prior to the date upon which interest begins to accrue between the public

owner and the contractor. Such pro rata shares of interest shall be computed daily until such payments are made to the subcontractors and materialmen.

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(c) For projects of a public owner other than the city of New York, if state funds directly related to and which have been budgeted for the construction of the project for which the payment is due have not been received prior to the expiration of the forty-five days specified in paragraph (a), of this subdivision, the interest provided for in paragraph (b) of this subdivision shall not begin to

and payment shall not be due, until ten days after receipt of the state funds. Nothing in this paragraph shall prevent the public owner, from approving the requisition, subject to receipt of the state funds. State funds shall mean monies provided to the public owner by the

state,

its officers, boards, departments, commissions, or a public authority and public benefit corporation, a majority of the members of which have been

appointed by the governor or who serve as members by virtue of holding a civil of fice of the state, or a combination thereof.

2. Payment by contractors to subcontractors. Within fifteen calendar days of the receipt of any payment from the public owner, the contractor shall pay each of his subcontractors and materialmen the proceeds from the payment representing the value of the work performed and/or materials furnished by the subcontractor and/or materialman and reflecting the percentage of the subcontractor's work completed the materialman's material supplied in the requisition approved by the owner and based upon the actual value of the subcontract purchase order less an amount necessary to satisfy any, claims, liens or judgments against the subcontractor or materialman which have not been suitably discharged and less any retained amount as hereafter described. With respect to contracts entered into by public owners other than the city of New York, failure by the contractor to make any payment, including any remaining amounts of the contract balance as hereinafter described, to any subcontractor or materialman within fifteen calendar days of the receipt of any payment from the public owner shall result in the commencement and accrual of interest on amounts due to such subcontractor or materialman for the period beginning on the day immediately following the expiration of such fifteen calendar day period and ending on the date on which payment is made by the contractor to such subcontractor or materialman. Such interest shall be the sole responsibility of the contractor, and shall be paid at the rate of interest in effect on the date payment is made by the contractor. Notwithstanding any other provision of law to the contrary, interest shall be computed at the rate equal to the overpayment rate set by the commissioner of taxation and finance pursuant to subsection (e) of section one thousand ninety-six of the tax law. The contractor shall retain not more than five per centum of each payment to the subcontractor and/or materialman except that the contractor may retain in excess of five per centum but not more than ten per centum of each payment to the subcontractor provided that prior to entering into a subcontract with the contractor, the subcontractor is unable or unwilling to provide a performance bond and a labor and material bond both

in the full amount of the subcontract at the request of the contractor. However, the contractor shall retain nothing from those payments representing proceeds owed the subcontractor and/or materialman' from the public owner's payments to the contractor for the remaining amounts of the contract balance as provided in subdivision one of this section. If the contractor has failed to submit a requisition for payment of the remaining amounts of the contract balance within ninety days of substantial completion as provided in subdivision one of this section, then any clause in the subcontract between the contractor and the subcontractor or materialman which states that payment by the contractor to such subcontractor or materialman is contingent upon payment by the owner to the contractor shall be deemed invalid. Within fifteen calendar days of the receipt of payment from the contractor, the subcontractor and/or materialman shall pay each of his subcontractors and materialmen in

the same as the contractor has paid the subcontractor, including interest as here in provided above. Nothing provided herein shall create any obligation the part of the public owner to pay or to see to the payment of any moneys to any subcontractor or materialman from any contractor

shall anything provided herein serve to create any relationship in contract or otherwise, implied or expressed, between the

subcontractor or materialman and the public owner. 3.

In the event that the terms of payment on a public works project, as provided in this section, are pre-empted or superseded as a result of EXPLANATION-Matter in italics is new; matter in brackets [] is old law

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the provisions of any federal statute, regulation or rule applicable to the project, the terms of this section shall not apply.

5 2. This act shall take effect on the thirtieth day after it shall have become a law, and shall apply to contracts entered into on or after such date and shall expire and be deemed repealed July 1, 1995 and the provisions of section 106-b of the general municipal law shall revert to and be read as set out in law on the date immediately preceding the effes ve date of this act.

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AN ACT to amend the lien law, in relation to excluding, certain real

property owned by an industrial development agency from the definition
of public improvement
Became a law July 31, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present.
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:

Section 1. Subdivision 7 of section 2 of the lien law, as amended by chapter 363 of the laws of 1944, is amended to read as follows:

7. Public improvement. The term "public improvement, when used in this chapter, means an improvement of any real property, belonging to the state or a public corporation; however, if the beneficial interest of an improvement is in an entity other than the state or a public corporation notwithstanding legal title being vested in an industrial development agency created under article eighteen-A of the general municipal law, then such improvement shall be considered improvement of real property subject to mechanics' liens on real property

provided in section three of this chapter. Nothing contained in this section shall create or be deemed to create any liability upon any industrial development agency for the

payment

the cost of any improvement, or otherwise. For the purposes of this subdivision the term "beneficial interest" shall mean the beneficial incidents of ownership of the improvement to include, but not be limited to, the right to possession, the right to claim tax benefits, if any, and the right to purchase or secure title to the improvement pursuant to executory

contract of sale, option agreement or lease.

§ 2. This act shall take effect on the thirtieth day after it shall have become a law and shall not apply to improvements commenced before such date or to improvements for which an industrial development agency has committed to finance through the issuance of its bonds or the pas sage of its inducement or bond resolution before such effective date.

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CHAPTER 663

AN ACT to amend the town law and the village law, in relation to plan-
ning boards and to repeal certain provisions of the town law and the
village law relating thereto
Became a law July 31, 1992, with the approval of the Governor.

Passed by a majority vote, three-fifths being present.
The People of the State of New York, represented in Senate and Assem-
bly, do enact as follows:

Section 1. Sections 271, 272, 274 and 275 of the town law are repealed and a new section 271 is added to read as follows:

§ 271. Planning board, creation, appointment. 1. Authorization. The town board of each town is hereby authorized by local law, to create a

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