The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein.
Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet.
The English language version is always the official and authoritative version of this website.
NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window.
Synopsis As Introduced Amends the Contractor Prompt Payment Act. Provides that under a construction contract, it is unlawful to withhold more than 5% retainage on payments earned by contractors and subcontractors. Effective immediately.
Judicial Note (Admin Office of the Illinois Courts)
HB 1292 would neither increase nor decrease the number of judges needed in the State.
Fiscal Note (Capital Development Board)
There is no fiscal impact since the held retainage is eventually paid whether it begins at 10% or 5%. The loss is the leverage that the retainage provides to help assure quality.
Fiscal Note (Dept. of Transportation)
HB 1292 will have no fiscal impact on the Department of Transportation.
State Mandates Fiscal Note (Dept. of Commerce & Economic Opportunity)
This site is maintained for the Illinois General Assembly
by the Legislative Information System, 705 Stratton Building, Springfield, Illinois 62706
Contact ILGA Webmaster