SB 61: Private works of improvement: retention payments.

This bill aims to regulate retention payments for private works of improvement. It limits the amount of retention payments withheld from contractors to 5% of the payment, with certain exceptions. The bill also requires that retention payments not be withheld from subcontractors or subcontractors' subcontractors. In cases where a contractor disputes the retention payment, the court must award reasonable attorney's fees to the prevailing party.