IL SB2202 | 2017-2018 | 100th General Assembly
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on April 27 2017 - 25% progression
Action: 2017-05-19 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on April 27 2017 - 25% progression
Action: 2017-05-19 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the State Prompt Payment Act. Provides that for State fiscal year 2018 and future fiscal years, any bill approved for payment under this Section 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 of 0.3% (currently, 1%) of any amount approved and unpaid shall be added for each month, or 0.01% (currently, 0.033%) of any amount approved and unpaid for each day, after the end of this 90-day period, until final payment is made. Makes conforming changes.
Title
PROMPT PAY-INTEREST RATE
Sponsors
History
Date | Chamber | Action |
---|---|---|
2017-05-19 | Senate | Rule 3-9(a) / Re-referred to Assignments |
2017-05-15 | Senate | Postponed - Executive |
2017-05-02 | Senate | Assigned to Executive |
2017-05-02 | Senate | Rule 2-10 Committee Deadline Established As May 12, 2017 |
2017-04-28 | Senate | Added as Chief Co-Sponsor Sen. Kyle McCarter |
2017-04-27 | Senate | Referred to Assignments |
2017-04-27 | Senate | First Reading |
2017-04-27 | Senate | Filed with Secretary by Sen. Dan McConchie |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
30 | 540 | 3-2 | Amended Code | Citation Text |
Illinois State Sources
Type | Source |
---|---|
Summary | http://www.ilga.gov/legislation/BillStatus.asp?DocNum=2202&GAID=14&DocTypeID=SB&SessionID=91&GA=100 |
Text | http://www.ilga.gov/legislation/100/SB/10000SB2202.htm |