CONTRACTOR PROMPT PAYMENT ACT House SponsorsRep. John A. Fritchey and Karen May Senate Sponsors(Sen. Terry Link) 8/31/2007HousePublic Act . . . . . . . . . 95-0567 New Act Creates the Contractor Prompt Payment Act. Provides that all construction contracts, unless expressly excluded, shall be deemed to provide: (i) if a contractor has performed in accordance with the provisions of a construction contract and the billing has been approved by the owner or the owner's agent, the owner shall pay the amount due to the contractor pursuant to the billing not more than 10 calendar days after the approval; and (ii) if a subcontractor has performed in accordance with the provisions of his or her contract with the contractor or subcontractor and the work has been accepted by the owner, the owner's agent, or the contractor, the contractor shall pay to his or her subcontractor and the subcontractor shall pay to his or her subcontractor, within 10 calendar days of the contractor's receipt from the owner or the subcontractor's receipt from the contractor of each periodic payment, final payment, or receipt of retainage monies, the full amount received for the work of the subcontractor based on the work completed or the services rendered under the construction contract. Provides for interest and suspension of performance for nonpayment of any amount required under the Act. Effective immediately.House Amendment No. 1 Changes specified time periods for payments from 10 calendar days to 15 calendar days.Senate Committee Amendment No. 1 Deletes, from provisions stating that all construction contracts shall be deemed to include specified payment requirements, an exception for contracts that "expressly exclude the provisions of this Act".Senate Floor Amendment No. 4 Changes the defined term "billing" to "payment application" and changes the definition. Excludes, from the definition of "construction contract", contracts for the design, construction, alteration, improvement, or repair of multiple family residences with 12 or fewer units in a single building. Provides that instructions or notification from an owner to his or her lender or architect to process or pay a payment application does not constitute approval of the payment application. Provides that if a payment is not made in a timely manner, the delinquent party is liable for the payment plus interest (rather than the amount of money owed under the construction contract plus interest). Provides that the interest imposed by the Act shall not be duplicative of the interest charged under the Mechanics Lien Act. Makes other changes. 2/7/2007HouseFiled with the Clerk by Rep. John A. Fritchey 2/7/2007HouseFirst Reading 2/7/2007HouseReferred to Rules Committee 2/15/2007HouseAssigned to Judiciary I - Civil Law Committee 2/22/2007HouseHouse Amendment No. 1 Filed with Clerk by Judiciary I - Civil Law Committee 2/22/2007HouseHouse Amendment No. 1 Adopted in Judiciary I - Civil Law Committee; by Voice Vote 2/22/2007HouseDo Pass as Amended / Short Debate Judiciary I - Civil Law Committee; 014-000-000 2/22/2007HousePlaced on Calendar 2nd Reading - Short Debate 2/23/2007HouseSecond Reading - Short Debate 2/23/2007HousePlaced on Calendar Order of 3rd Reading - Short Debate 3/2/2007HouseRemoved from Short Debate Status 3/2/2007HousePlaced on Calendar Order of 3rd Reading - Standard Debate 3/2/2007HouseThird Reading - Standard Debate - Passed 105-004-001 3/6/2007SenateArrive in Senate 3/6/2007SenatePlaced on Calendar Order of First Reading March 7, 2007 3/6/2007HouseAdded Co-Sponsor Rep. Karen May 3/8/2007SenateChief Senate Sponsor Sen. John J. Cullerton 3/8/2007SenateFirst Reading 3/8/2007SenateReferred to Rules 4/25/2007SenateAssigned to State Government and Veterans Affairs 4/30/2007SenateAlternate Chief Sponsor Changed to Sen. Terry Link 4/30/2007SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Terry Link 4/30/2007SenateSenate Committee Amendment No. 1 Referred to Rules 5/2/2007SenateSenate Committee Amendment No. 1 Rules Refers to State Government and Veterans Affairs 5/2/2007SenateSenate Committee Amendment No. 1 Adopted 5/2/2007SenateDo Pass as Amended State Government and Veterans Affairs; 008-000-000 5/2/2007SenatePlaced on Calendar Order of 2nd Reading May 3, 2007 5/22/2007SenateSenate Floor Amendment No. 2 Filed with Secretary by Sen. Terry Link 5/22/2007SenateSenate Floor Amendment No. 2 Referred to Rules 5/22/2007SenateSecond Reading 5/22/2007SenatePlaced on Calendar Order of 3rd Reading May 23, 2007 5/23/2007SenateSenate Floor Amendment No. 2 Rules Refers to State Government and Veterans Affairs 5/24/2007SenateSenate Floor Amendment No. 2 Postponed - State Government and Veterans Affairs 5/25/2007SenateRule 2-10 Third Reading Deadline Established As May 31, 2007 5/29/2007SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Terry Link 5/29/2007SenateSenate Floor Amendment No. 3 Referred to Rules 5/29/2007SenateSenate Floor Amendment No. 4 Filed with Secretary by Sen. Terry Link 5/29/2007SenateSenate Floor Amendment No. 4 Referred to Rules 5/30/2007SenateSenate Floor Amendment No. 4 Rules Refers to State Government and Veterans Affairs 5/31/2007SenateSenate Floor Amendment No. 4 Recommend Do Adopt State Government and Veterans Affairs; 008-000-000 5/31/2007SenateRecalled to Second Reading 5/31/2007SenateSenate Floor Amendment No. 4 Adopted; Link 5/31/2007SenatePlaced on Calendar Order of 3rd Reading 5/31/2007SenateThird Reading - Passed; 056-000-000 5/31/2007SenateSenate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a) 5/31/2007SenateSenate Floor Amendment No. 3 Tabled Pursuant to Rule 5-4(a) 5/31/2007HouseArrived in House 5/31/2007HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 1,4 5/31/2007HouseSenate Committee Amendment No. 1 Motion Filed Concur Rep. John A. Fritchey 5/31/2007HouseSenate Floor Amendment No. 4 Motion Filed Concur Rep. John A. Fritchey 5/31/2007HouseSenate Committee Amendment No. 1 Motion to Concur Referred to Rules Committee 5/31/2007HouseSenate Floor Amendment No. 4 Motion to Concur Referred to Rules Committee 5/31/2007HouseFinal Action Deadline Extended-9(b) June 8, 2007 6/5/2007HouseSenate Committee Amendment No. 1 Motion to Concur Recommends be Adopted Rules Committee; 003-001-000 6/5/2007HouseSenate Floor Amendment No. 4 Motion to Concur Recommends be Adopted Rules Committee; 003-001-000 6/5/2007House3/5 Vote Required 6/5/2007HouseSenate Committee Amendment No. 1 House Concurs 098-002-000 6/5/2007HouseSenate Floor Amendment No. 4 House Concurs 098-002-000 6/5/2007HousePassed Both Houses 7/3/2007HouseSent to the Governor 8/31/2007HouseGovernor Approved 8/31/2007HouseEffective Date August 31, 2007 8/31/2007HousePublic Act . . . . . . . . . 95-0567