Date	Chamber	Action
1/9/2019	Senate	Session Sine Die

Statutes Amended In Order of Appearance

770 ILCS 60/21.03 new

Synopsis As Introduced
Amends the Mechanics Lien Act. Provides that all moneys withheld as retainage from payments made to any contractor or subcontractor under any construction contract, except those contracts that provide for retainage of 5% or less, shall be held in trust for the benefit of the contractors and subcontractors from whom the retainage has been withheld. Provides that separate records of account shall be kept for each person for whom trust funds are held, and trust funds are not required to be deposited into a separate bank account solely for that purpose as long as trust funds are not expended in a prohibited manner. Provides that any person who knowingly retains or uses the moneys held in trust for any purpose other than to pay those for whom the moneys are held is liable for all damages sustained, including interest at 10% per annum and reasonable attorney's fees.

Actions 

Date	Chamber	Action
2/9/2017	Senate	Filed with Secretary by Sen. John G. Mulroe
2/9/2017	Senate	First Reading
2/9/2017	Senate	Referred to Assignments
2/16/2017	Senate	Added as Chief Co-Sponsor Sen. Linda Holmes
2/28/2017	Senate	Assigned to Judiciary
3/8/2017	Senate	Postponed - Judiciary
3/15/2017	Senate	Do Pass Judiciary; 011-000-000
3/15/2017	Senate	Placed on Calendar Order of 2nd Reading March 16, 2017
8/4/2017	Senate	Pursuant to Senate Rule 3-9(b) / Referred to Assignments
1/9/2019	Senate	Session Sine Die

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