Illinois Senate Bill 2202

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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]

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.

PROMPT PAY-INTEREST RATE

Sen. Dan McConchie [R]

Sen. Kyle McCarter [R]

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

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

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