Illinois SB 74: GOVT CONTRACT RETAINAGE

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB0074

Introduced 1/13/2025, by Sen. Willie Preston 

SYNOPSIS AS INTRODUCED:

New Act

30 ILCS 540/1 from Ch. 127, par. 132.401

 Creates the State Agency Retainage Act. Provides that, if a State agency determines that satisfactory progress has not been achieved by a contractor or subcontractor during any period for which a payment is to be made, a percentage of the payment may be retained by the State agency. Prohibits the amount of retainage under the Act from exceeding 10% of the approved estimated amount under the terms of the contract until the contract is 50% completed. Prohibits retainage of more than 5% of the contract for the duration of the contract. Authorizes retainage to be adjusted as the contract approaches completion to recognize better than expected performance, the ability to rely on alternative safeguards, and other factors. Further provides that on completion of all contract requirements, amounts retained under the Act must be paid promptly. Defines the terms "retainage" and "State agency". Amends the State Prompt Payment Act. Specifies that the State Prompt Payment Act does not apply to retainage withheld under the State Agency Retainage Act.

LRB104 05978 JRC 16011 b

A BILL FOR

SB0074LRB104 05978 JRC 16011 b

1 AN ACT concerning government.

2 Be it enacted by the People of the State of Illinois, 

3represented in the General Assembly:

4 Section 1. Short title. This Act may be cited as the State 

5Agency Retainage Act.

6 Section 5. Definitions. As used in this Act:

7 "Retainage" means a portion of money withheld from the 

8payment of a contract for a sp