STATE GOVERNMENT-TECH
What changed between versions
The standard payment deadline for most vendor bills remains 60 days, but a new 90-day deadline is established for bills approved in fiscal year 2012 and beyond, with a 1.0% monthly interest penalty.
State agencies are now required to review bills within 30 days of receipt and must notify vendors of defects promptly, with specific rules for construction-related invoices.
Interest penalties for pharmacy and nursing facility bills are set at 2.0% per month if paid late, while other bills remain at 1.0% per month, with specific exceptions for certain healthcare programs.
New exceptions are added where interest cannot be charged if a contract is voided by the Chief Procurement Officer or while an audit is pending by the Auditor General.
The bill corrects the short title reference, changing it from the Civil Administrative Code of Illinois to the State Prompt Payment Act.