PROMPT PAY- AGGREGATE INVOICE House SponsorsRep. Marlow H. Colvin Senate Sponsors(Sen. Gary Forby) 1/9/2007HouseSession Sine Die 30 ILCS 540/3-2from Ch. 127, par. 132.403-2 Amends the State Prompt Payment Act. Provides that in computing interest, the amount of the bill or invoice means the aggregate amount submitted by the vendor in one calendar day, whether electronically or on paper, and does not mean the items on the bill or invoice taken individually. Effective immediately.Fiscal Note (Office of the Comptroller) It is undeterminable to estimate a fiscal impact that House Bill 3823 would have on state operations. Since this legislation requires state agencies to compute late interest penalties from a summary of the total aggregate amount submitted by a vendor in one calendar day, only individual state agencies that receive and process a vendor's invoices prior to submission to the Comptroller's Office have sufficient data to determine an estimated fiscal impact. As of today for fiscal year 2005, the total amount of late interest penalties paid under the Prompt Payment Act is $222,761. In comparison, the total amount paid in fiscal year 2004 was $3,512,000.Fiscal Note (Department of Public Aid) An estimate of as much as $60 million annually in additional prompt pay interest is projected.Balanced Budget Note (Gov. Office of Management & Budget) Fiscal Impact: Approximately $60 million 2/25/2005HouseFiled with the Clerk by Rep. Marlow H. Colvin 2/25/2005HouseFirst Reading 2/25/2005HouseReferred to Rules Committee 3/1/2005HouseAssigned to State Government Administration Committee 3/9/2005HouseDo Pass / Short Debate State Government Administration Committee; 007-000-000 3/10/2005HousePlaced on Calendar 2nd Reading - Short Debate 3/16/2005HouseFiscal Note Requested by Rep. Brandon W. Phelps 4/6/2005HouseFiscal Note Filed 4/8/2005HouseSecond Reading - Short Debate 4/8/2005HouseHeld on Calendar Order of Second Reading - Short Debate 4/12/2005HouseBalanced Budget Note Requested by Rep. Brandon W. Phelps 4/15/2005HouseBalanced Budget Note Requested - Withdrawn by Rep. Brandon W. Phelps 4/15/2005HouseFiscal Note Filed 4/15/2005HouseBalanced Budget Note Filed 4/15/2005HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/15/2005HouseThird Reading - Short Debate - Passed 107-000-000 4/19/2005SenateArrive in Senate 4/19/2005SenatePlaced on Calendar Order of First Reading April 20, 2005 4/19/2005SenateChief Senate Sponsor Sen. Chris Lauzen 4/19/2005SenateFirst Reading 4/19/2005SenateReferred to Rules 4/21/2005SenateAssigned to State Government 5/4/2005SenateAlternate Chief Sponsor Changed to Sen. Gary Forby 5/5/2005SenatePostponed - State Government 5/6/2005SenateRule 3-9(a) / Re-referred to Rules 1/9/2007HouseSession Sine Die