Illinois HB 957: STATE GOVERNMENT-TECH

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 Full Text of HB0957

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HB0957 EngrossedLRB104 04859 SPS 14886 b

1 AN ACT concerning State government.

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

3represented in the General Assembly:

4 Section 5. The State Prompt Payment Act is amended by 

5changing Sections 3-2, 3-6, and 7 as follows:

6 (30 ILCS 540/3-2)

7 Sec. 3-2. Beginning July 1, 1993, in any instance where a 

8State official or agency is late in payment of a vendor's bill 

9or invoice for goods or services furnished to the State, as 

10defined in Section 1, properly approved in accordance with 

11rules promulgated under Section 3-3, the State official or 

12agency shall pay interest to the vendor in accordance with the 

13following:

14 (1) (Blank). Any bill, except a bill submitted under 

15 Article V of the Illinois Public Aid Code and except as 

16 provided under paragraph (1.05) of this Section, approved 

17 for payment under this Section must be paid or the payment 

18 issued to the payee within 60 days of receipt of a proper 

19 bill or invoice. If payment is not issued to the payee 

20 within this 60-day period, an interest penalty of 1.0% of 

21 any amount approved and unpaid shall be added for each 

22 month or fraction thereof after the end of this 60-day 

23 period, until final payment is made. Any bill, except a 

HB0957 Engrossed- 2 -LRB104 04859 SPS 14886 b

1 bill for pharmacy or nursing facility services or goods, 

2 and except as provided under paragraph (1.05) of this 

3 Section, submitted under Article V of the Illinois Public 

4 Aid Code approved for payment under this Section m