|Public Act 096-1085
|LRB096 20720 RCE 36453 b
AN ACT concerning finance.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The State Prompt Payment Act is amended by
adding Section 3-2.5 as follows:
(30 ILCS 540/3-2.5 new)
Advance payment reimbursement and interest.
a vendor provides goods or services to an individual and
requires that individual to pay all or part of the cost of the
goods or services in advance of the vendor being paid for those
goods or services by the State, then the amount of the
individual's advance payment, and any interest under this Act
attributable to the advance payment, that is paid by the State
to the vendor is the property of the individual and, to the
extent received by the vendor, must be promptly disbursed by
the vendor to that individual.