ARTICLE
ECA recently sent a letter of support to state Legislative leaders supporting A10109/S8844, which is legislation that relates to amending state construction and commodity contracts to provide equitable relief to contractors who have sustained unanticipated expenses by reason of construction materials price escalations. This legislation allows contractors under a state construction contract that they bid prior to April 1, 2020, and for which they bought construction materials after March 1, 2020, and who have experienced an increase in materials cost of more than 5% to apply for an adjustment in their contract to recuperate the cost of the materials cost increases. This legislation is an important step toward helping state contractors recover from cost increases that were so significant in many cases that contractors experienced a net loss on their state contracts. Read ECA’s letter of support here.