Illinois General Assembly - Bill Status for HB4418
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 Bill Status of HB4418  103rd General Assembly

Short Description:  GOVERNMENT CONTRACT RETAINAGE

House Sponsors
Rep. William "Will" Davis and Elizabeth "Lisa" Hernandez

Last Action
DateChamber Action
  4/19/2024HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
New Act


Synopsis As Introduced
Creates the Government Contract Retainage Act. Defines terms, including that "retainage" means a portion of money withheld from the payment of a contract for a specified period of time to ensure that a contractor or subcontractor finishes a construction project completely and finishes in the manner specified in the contract. Provides that interest shall accrue monthly on the first day of each month on retainage withheld by a governmental unit at a specified rate set by the State Treasurer. Requires retainage withheld by a governmental unit to be paid not more than 60 days after being retained, including interest accrued, unless the retainage was withheld on the last pay period of a project shall, which shall be paid not more than 120 days after being retained. Limits the concurrent exercise of home rule powers.

House Committee Amendment No. 3
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes. Removes provisions relating to interest on retainage and payment of retainage. Adds that all governmental units shall deposit all retainage into an interest-bearing escrow account and the moneys in the escrow account and all interest shall be divided up between the contractor and subcontractors proportionally.

House Committee Amendment No. 4
Provides that all governmental units shall deposit retainage from contracts with an aggregate value of $300,000 or more (rather than all retainage) into an interest-bearing escrow account.

Actions 
DateChamber Action
  1/9/2024HouseFiled with the Clerk by Rep. William "Will" Davis
  1/16/2024HouseFirst Reading
  1/16/2024HouseReferred to Rules Committee
  2/28/2024HouseAssigned to State Government Administration Committee
  2/28/2024HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. William "Will" Davis
  2/28/2024HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/5/2024HouseHouse Committee Amendment No. 1 Rules Refers to State Government Administration Committee
  3/6/2024HouseAdded Co-Sponsor Rep. Elizabeth "Lisa" Hernandez
  3/11/2024HouseHouse Committee Amendment No. 2 Filed with Clerk by Rep. William "Will" Davis
  3/11/2024HouseHouse Committee Amendment No. 2 Referred to Rules Committee
  3/12/2024HouseHouse Committee Amendment No. 2 Rules Refers to State Government Administration Committee
  3/21/2024HouseHouse Committee Amendment No. 3 Filed with Clerk by Rep. William "Will" Davis
  3/21/2024HouseHouse Committee Amendment No. 3 Referred to Rules Committee
  3/27/2024HouseHouse Committee Amendment No. 3 Rules Refers to State Government Administration Committee
  4/2/2024HouseHouse Committee Amendment No. 4 Filed with Clerk by Rep. William "Will" Davis
  4/2/2024HouseHouse Committee Amendment No. 4 Referred to Rules Committee
  4/3/2024HouseHouse Committee Amendment No. 4 Rules Refers to State Government Administration Committee
  4/3/2024HouseHouse Committee Amendment No. 3 Adopted in State Government Administration Committee; by Voice Vote
  4/3/2024HouseHouse Committee Amendment No. 4 Adopted in State Government Administration Committee; by Voice Vote
  4/3/2024HouseDo Pass as Amended / Short Debate State Government Administration Committee; 006-003-000
  4/3/2024HouseHouse Committee Amendment No. 1 Tabled
  4/3/2024HouseHouse Committee Amendment No. 2 Tabled
  4/4/2024HousePlaced on Calendar 2nd Reading - Short Debate
  4/17/2024HouseSecond Reading - Short Debate
  4/17/2024HouseHeld on Calendar Order of Second Reading - Short Debate
  4/19/2024HouseRule 19(a) / Re-referred to Rules Committee

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