Illinois General Assembly - Bill Status for HB3172
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 Bill Status of HB3172  102nd General Assembly


Short Description:  FLEXIBLE VENDOR PAYMENT

House Sponsors
Rep. Michael Halpin

Last Action
DateChamber Action
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
30 ILCS 540/12 new


Synopsis As Introduced
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.

Actions 
DateChamber Action
  2/18/2021HouseFiled with the Clerk by Rep. Michael Halpin
  2/19/2021HouseFirst Reading
  2/19/2021HouseReferred to Rules Committee
  3/16/2021HouseAssigned to Revenue & Finance Committee
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee

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