LEITCH. (HAWKINSON) New Act Creates the Construction Trust Fund Act. Provides that moneys paid under a contract by an owner to a contractor or by an owner or contractor to a subcontractor for work done or materials furnished for or about a building shall be held in trust for the purpose of paying those who did the work or furnished the materials. The moneys need not be held in separate accounts; commingling does not violate this Act. Provides that any trustee who knowingly retains or uses the moneys held in trust for any purpose other than to pay those subcontractors for whom the moneys are held shall be personally liable to any person damaged by the action. Effective immediately. HOUSE AMENDMENT NO. 1. Deletes reference to: New Act Adds reference to: 770 ILCS 60/21.02 new Deletes everything. Amends the Mechanics Lien Act. Provides that an owner, contractor, subcontractor, or supplier of any tier who requests or requires a waiver of mechanics lien by any person who fur- nishes labor, services, or materials for the improvement of a lot or a tract of land in exchange for payment or the promise or payment, shall hold the unpaid sums in trust subject to the waiver of mechanics lien, as trustee for the person who furnished the labor, services, or materials, which moneys need not be held in a separate account. Provides that a violation of these provisions will subject the violator to liability for all damages sustained. Effective immediately. 97-02-27 H FIRST READING 97-02-27 H REFERRED TO HOUSE RULES COMMITTEE RULES 97-02-28 H ASSIGNED TO COMMITTEE JUD-CIVIL LAW 97-03-20 H DO PASS/SHORT DEBATE 009-000-000 HJUA 97-03-20 H PLACED CALENDAR 2ND READING-SHORT DEBATE 97-04-08 H SECOND READING-SHORT DEBATE 97-04-08 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 97-04-12 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-04-16 H RECALLED TO SECOND READING-SHORT DEBATE 97-04-16 H AMENDMENT NO. 01-LEITCH 97-04-16 H AMENDMENT REFERRED TO HRUL 97-04-16 H AMENDMENT NO. 01-LEITCH 97-04-16 H BE ADOPTED HRUL 97-04-16 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 97-04-19 H AMENDMENT NO. 01-LEITCH 97-04-19 H ADOPTED 97-04-19 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 97-04-23 H THIRD READING/SHORT DEBATE/PASSED 117-000-000 97-04-24 S ARRIVE IN SENATE 97-04-24 S PLACED CALENDAR ORDER OF FIRST READING 97-04-25 97-04-29 S CHIEF SPONSOR HAWKINSON 97-04-29 S FIRST READING 97-04-29 S REFERRED TO SENATE RULES COMMITTEE RULES 97-04-30 S ASSIGNED TO COMMITTEE JUDICIARY 97-05-07 S DO PASS 009-000-000 SJUD 97-05-07 S PLACED ON CALENDAR ORDER OF 2ND READING 97-05-08 97-05-08 S SECOND READING 97-05-08 S PLACED ON CALENDAR ORDER OF 3RD READING 97-05-09 97-05-09 S THIRD READING - PASSED 057-000-000 97-05-09 H PASSED BOTH HOUSES 97-06-06 H SENT TO THE GOVERNOR 97-07-25 H GOVERNOR APPROVED 97-07-25 H EFFECTIVE DATE 97-07-25 97-07-25 H PUBLIC ACT.............................. 90-0208 END OF INQUIRY Full Text Bill Summary