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SB 2255 Illinois Senate · 100th Regular Session

PROMPT PAYMENT-INTEREST

Summary
Amends the State Prompt Payment Act. Provides that, for bills approved for payment on or after July 1, 2018, the prompt payment interest rate for the fiscal year shall be the greater of (i) 3% or (ii) 2 times the percentage increase, if any, in the Consumer Price Index For All Urban Consumers during the 12-month period immediately preceding the first day of the fiscal year (currently, 1% generally and 2% for certain bills submitted under Article V of the Illinois Public Aid Code). Effective immediately.
Bill status failed 1 of 4 stages cleared
Introduction
Nov 2017
Committee Review
Floor Vote
Governor
Introduced Nov 1, 2017 Last action Jan 9, 2019
Floor votes

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Full legislative history

Actions timeline

Total actions
11
Key actions
2
Committee
6
Amendments
1
May 3, 2018
Committee
Rule 3-9(a) / Re-referred to Assignments
upper
Apr 13, 2018
Upper · Passed
Rule 2-10 Committee Deadline Established As April 27, 2018
upper
Apr 10, 2018
Upper · Passed
Senate Committee Amendment No. 1 Pursuant to Senate Rule 3-8(b-1), this amendment will remain in the Committee on Assignments.
upper
Apr 6, 2018
Committee
Senate Committee Amendment No. 1 Referred to Assignments
upper
Apr 6, 2018
Introduced
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Laura M. Murphy
upper
Jan 24, 2018
Committee
Assigned to Appropriations I
upper
Nov 1, 2017
Committee
Referred to Assignments
upper
0 primary · 1 co-sponsor

Sponsors

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