Illinois Senate Bill 688 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 25 2021 - 25% progression, died in committee
Action: 2021-04-23 - 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, 2021, and by July 1 of each year thereafter, the State Comptroller shall determine the prompt payment interest rate for the fiscal year beginning on that July 1. Provides that any bill approved for payment on or after July 1, 2021 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]

Sen. Jason Plummer [R]

Sen. Rachelle Crowe [D]

Date	Chamber	Action
2021-04-23	Senate	Rule 3-9(a) / Re-referred to Assignments
2021-04-20	Senate	Added as Co-Sponsor Sen. Rachelle Crowe
2021-04-13	Senate	Added as Co-Sponsor Sen. Jason Plummer
2021-03-17	Senate	Placed on Calendar Order of 2nd Reading March 23, 2021
2021-03-17	Senate	Do Pass State Government; 008-000-000
2021-03-09	Senate	Assigned to State Government
2021-02-25	Senate	Referred to Assignments
2021-02-25	Senate	First Reading
2021-02-25	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=688&GAID=16&DocTypeID=SB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/SB/10200SB0688.htm