Illinois Senate Bill 181

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 31 2023 - 25% progression
Action: 2024-03-15 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

Amends the State Prompt Payment Act. Provides that, by July 1, 2023, and by July 1 of each year thereafter, the State Comptroller shall determine the prompt payment interest rate for the fiscal year that begins on that date. Provides that any bill approved for payment on or after July 1, 2023 must be paid or the payment issued to the payee within 90 days of receipt of a proper bill or invoice. Provides that if payment is not issued to the payee within this 90-day period, an interest penalty calculated using the prompt payment interest rate shall be added for each month or fraction thereof after the end of this 90-day period until final payment is made. Provides for the prompt payment interest rate under the applicable provisions. Makes conforming and other changes. Effective immediately.

FINANCE-PROMPT PAYMENT

Sen. Laura Murphy [D]

Date	Chamber	Action
2024-03-15	Senate	Rule 3-9(a) / Re-referred to Assignments
2024-01-10	Senate	Re-assigned to State Government
2023-03-10	Senate	Rule 3-9(a) / Re-referred to Assignments
2023-02-23	Senate	To Subcommittee on State Gov. Special Issues
2023-02-07	Senate	Assigned to State Government
2023-01-31	Senate	Referred to Assignments
2023-01-31	Senate	First Reading
2023-01-31	Senate	Filed with Secretary by Sen. Laura M. Murphy

Chapter	Article	Section	Citation Type	Statute Text
30	540	3-2	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=181&GAID=17&DocTypeID=SB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/SB/10300SB0181.htm