Illinois House Bill 3172 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 18 2021 - 25% progression, died in committee
Action: 2021-03-27 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the State Prompt Payment Act. Provides for the Flexible Vendor Payment Program. Provides minimum requirements for the Program. Provides for a Program administrator. Provides for capital providers to the Program. Provides that the Program shall be accessible to any State vendor that wishes to enter into the Program. Provides that a vendor shall assign its interest in a voucher to an eligible capital provider, and select a timeframe upon which the capital provider shall pay to the vendor 100% percent of the payable voucher, minus any fees that may be associated with how soon the vendor wants to be paid. Specifies payment timeframe. Provides for the payment of invoices by the State to capital providers. Establishes a variable interest rate. Authorizes late payment agreements. Provides for the adoption of rules.

FLEXIBLE VENDOR PAYMENT

Sen. Michael Halpin [D]

Date	Chamber	Action
2021-03-27	House	Rule 19(a) / Re-referred to Rules Committee
2021-03-16	House	Assigned to Revenue & Finance Committee
2021-02-19	House	Referred to Rules Committee
2021-02-19	House	First Reading
2021-02-18	House	Filed with the Clerk by Rep. Michael Halpin

Chapter	Article	Section	Citation Type	Statute Text
30	540	12	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3172&GAID=16&DocTypeID=HB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/HB/10200HB3172.htm