SB 2729

  • Illinois Senate Bill
  • 103rd Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Government Contract Retainage

Abstract

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.

Bill Sponsors (6)

Votes


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Actions


Jun 26, 2024

Senate

Senate Committee Amendment No. 2 Pursuant to Senate Rule 3-9(b) / Referred to Assignments

Senate

Pursuant to Senate Rule 3-9(b) / Referred to Assignments

Senate

Senate Committee Amendment No. 3 Pursuant to Senate Rule 3-9(b) / Referred to Assignments

Senate

Senate Committee Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments

May 25, 2024

Senate

Rule 2-10 Committee/3rd Reading Deadline Established As May 26, 2024

May 24, 2024

Senate

Rule 2-10 Committee/3rd Reading Deadline Established As May 25, 2024

May 17, 2024

Senate

Rule 2-10 Committee Deadline Established As May 24, 2024

May 03, 2024

Senate

Rule 2-10 Committee/3rd Reading Deadline Established As May 17, 2024

Apr 12, 2024

Senate

Rule 2-10 Third Reading Deadline Established As May 3, 2024

Apr 10, 2024

Senate

Senate Committee Amendment No. 3 To Subcommittee on Procurement

Senate

Senate Committee Amendment No. 2 To Subcommittee on Procurement

Apr 09, 2024

Senate

Senate Committee Amendment No. 3 Assignments Refers to Executive

Senate

Added as Co-Sponsor Sen. Adriane Johnson

Apr 05, 2024

Senate

Rule 2-10 Committee Deadline Established As May 3, 2024

Mar 21, 2024

Senate

Senate Committee Amendment No. 3 Referred to Assignments

Senate

Senate Committee Amendment No. 3 Filed with Secretary by Sen. Willie Preston

Mar 20, 2024

Senate

Senate Committee Amendment No. 2 Referred to Assignments

Senate

Senate Committee Amendment No. 2 Filed with Secretary by Sen. Willie Preston

Senate

Senate Committee Amendment No. 2 Assignments Refers to Executive

Mar 15, 2024

Senate

Rule 2-10 Committee Deadline Established As April 5, 2024

Mar 07, 2024

Senate

Senate Committee Amendment No. 1 To Subcommittee on Procurement

Feb 28, 2024

Senate

Senate Committee Amendment No. 1 Assignments Refers to Executive

Feb 23, 2024

Senate

Senate Committee Amendment No. 1 Referred to Assignments

Senate

Senate Committee Amendment No. 1 Filed with Secretary by Sen. Willie Preston

Feb 21, 2024

Senate

Added as Chief Co-Sponsor Sen. Mattie Hunter

Feb 20, 2024

Senate

Sponsor Removed Sen. Rachel Ventura

Senate

Added as Chief Co-Sponsor Sen. Rachel Ventura

Senate

Added as Co-Sponsor Sen. Rachel Ventura

Feb 08, 2024

Senate

To Subcommittee on Procurement

Senate

Added as Chief Co-Sponsor Sen. Ram Villivalam

Senate

Added as Chief Co-Sponsor Sen. Javier L. Cervantes

Jan 31, 2024

Senate

Assigned to Executive

Jan 26, 2024

Senate

Chief Sponsor Changed to Sen. Willie Preston

Jan 12, 2024

Senate

Filed with Secretary by Sen. Ram Villivalam

Senate

Referred to Assignments

Senate

First Reading

Bill Text

Bill Text Versions Format
Introduced HTML PDF
Senate Amendment 001 HTML PDF
Senate Amendment 002 HTML PDF
Senate Amendment 003 HTML PDF

Related Documents

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Sources

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