Illinois General Assembly - Bill Status for HB2396
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 Bill Status of HB2396  102nd General Assembly


Short Description:  PROMPT PAY- SMALL BUSINESS

House Sponsors
Rep. Ruth Munson - JoAnn D. Osmond - Aaron Schock and Linda Chapa LaVia

Last Action
DateChamber Action
  1/9/2007HouseSession Sine Die

Statutes Amended In Order of Appearance
30 ILCS 540/1from Ch. 127, par. 132.401
30 ILCS 540/3-2from 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 
DateChamber Action
  2/16/2005HouseFiled with the Clerk by Rep. Ruth Munson
  2/17/2005HouseFirst Reading
  2/17/2005HouseReferred to Rules Committee
  2/18/2005HouseAdded Chief Co-Sponsor Rep. JoAnn D. Osmond
  2/18/2005HouseAssigned to State Government Administration Committee
  3/2/2005HouseFiscal Note Filed
  3/2/2005HouseMotion to Suspend Rule 25 - Prevailed
  3/9/2005HouseDo Pass / Short Debate State Government Administration Committee; 009-000-000
  3/10/2005HousePlaced on Calendar 2nd Reading - Short Debate
  3/15/2005HouseFiscal Note Requested by Rep. William Davis
  3/17/2005HouseAdded Co-Sponsor Rep. Linda Chapa LaVia
  4/6/2005HouseAdded Chief Co-Sponsor Rep. Aaron Schock
  4/8/2005HouseSecond Reading - Short Debate
  4/8/2005HouseHeld on Calendar Order of Second Reading - Short Debate
  4/11/2005HouseBalanced Budget Note Requested by Rep. Brandon W. Phelps
  4/12/2005HouseState Mandates Fiscal Note Requested by Rep. Brandon W. Phelps
  4/15/2005HouseRule 19(a) / Re-referred to Rules Committee
  1/9/2007HouseSession Sine Die

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