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92_HB2464ham001
LRB9204191DHmbam01
1 AMENDMENT TO HOUSE BILL 2464
2 AMENDMENT NO. . Amend House Bill 2464 on page 1,
3 line 9, after the period, by inserting the following:
4 ""Building and construction contract" does not include any
5 contract otherwise described in this Section to the extent
6 that the contract involves the expenditure of public moneys,
7 whether State or local."; and
8 on page 1, below line 23, by inserting the following:
9 "Section 15. Prompt payment. A building and construction
10 contract must require the prime contractor and all
11 subcontractors to pay each subcontractor and material
12 supplier within 15 business days after the prime contractor
13 or subcontractor receives payment from the owner or the
14 owner's agent for undisputed amounts for service provided by
15 a subcontractor or materials provided by a supplier. The
16 contract must require that the prime contractor or
17 subcontractor pay interest under the Mechanics Lien Act on
18 any undisputed amount not paid within 15 business days after
19 payment is received from the owner or owner's agent. A
20 subcontractor or supplier who prevails in a civil action to
21 collect the interest shall be awarded its costs and fees,
22 including but not limited to attorney's fees, incurred in
-2- LRB9204191DHmbam01
1 enforcing this Section.".