PROMPT PAYMENT-INTEREST Senate SponsorsSen. Laura M. Murphy 1/9/2019SenateSession Sine Die 30 ILCS 540/3-2Amends the State Prompt Payment Act. Provides that, for bills approved for payment on or after July 1, 2018, the prompt payment interest rate for the fiscal year shall be the greater of (i) 3% or (ii) 2 times the percentage increase, if any, in the Consumer Price Index For All Urban Consumers during the 12-month period immediately preceding the first day of the fiscal year (currently, 1% generally and 2% for certain bills submitted under Article V of the Illinois Public Aid Code). Effective immediately. 11/1/2017SenateFiled with Secretary by Sen. Laura M. Murphy 11/1/2017SenateFirst Reading 11/1/2017SenateReferred to Assignments 1/24/2018SenateAssigned to Appropriations I 4/6/2018SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Laura M. Murphy 4/6/2018SenateSenate Committee Amendment No. 1 Referred to Assignments 4/10/2018SenateSenate Committee Amendment No. 1 Pursuant to Senate Rule 3-8(b-1), this amendment will remain in the Committee on Assignments. 4/13/2018SenateRule 2-10 Committee Deadline Established As April 27, 2018 4/27/2018SenateRule 2-10 Committee/3rd Reading Deadline Established As May 3, 2018 5/3/2018SenateRule 3-9(a) / Re-referred to Assignments 1/9/2019SenateSession Sine Die