Date	Chamber	Action
1/9/2007	House	Session Sine Die

Statutes Amended In Order of Appearance

30 ILCS 540/1

from Ch. 127, par. 132.401

30 ILCS 540/3-2

from Ch. 127, par. 132.403-2

Synopsis As Introduced
Amends the State Prompt Payment Act. Requires vendors who are small businesses to be paid within 10 days (now, 60 days for all businesses). Defines a "small business" as one that employs fewer than 50 employees.

Fiscal Note (Capital Development Board)

The Capital Development Board averaged around $60,000 in prompt payment interest om 2004 and 2005. Small businesses are defined by CMS (based on sales volume) account for 30% of CDB's activity. Assuming that CMS's definition and this act's definition account for approximately the same population of vendors, CDB's prompt payment interest might triple to about $240,000 per year if bond sales continue in the same patterns.

Actions 

Date	Chamber	Action
2/16/2005	House	Filed with the Clerk by Rep. Ruth Munson
2/17/2005	House	First Reading
2/17/2005	House	Referred to Rules Committee
2/18/2005	House	Added Chief Co-Sponsor Rep. JoAnn D. Osmond
2/18/2005	House	Assigned to State Government Administration Committee
3/2/2005	House	Fiscal Note Filed
3/2/2005	House	Motion to Suspend Rule 25 - Prevailed
3/9/2005	House	Do Pass / Short Debate State Government Administration Committee; 009-000-000
3/10/2005	House	Placed on Calendar 2nd Reading - Short Debate
3/15/2005	House	Fiscal Note Requested by Rep. William Davis
3/17/2005	House	Added Co-Sponsor Rep. Linda Chapa LaVia
4/6/2005	House	Added Chief Co-Sponsor Rep. Aaron Schock
4/8/2005	House	Second Reading - Short Debate
4/8/2005	House	Held on Calendar Order of Second Reading - Short Debate
4/11/2005	House	Balanced Budget Note Requested by Rep. Brandon W. Phelps
4/12/2005	House	State Mandates Fiscal Note Requested by Rep. Brandon W. Phelps
4/15/2005	House	Rule 19(a) / Re-referred to Rules Committee
1/9/2007	House	Session Sine Die

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