Proposed Retainage Limits Under Amendments to the Illinois Contractor Prompt Payment Act Moving Again

Posted on September 1, 2009 by Joshua Glazov
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MoneyChangingHands_web.jpgIn this past post and this past post too I mentioned a bill (HB344) in the Illinois General Assembly to amend the Illinois Contractor Prompt Payment Act putting caps on retainage under private construction contract and subcontracts.   

This bill stalled in the spring.  But it's active again.  It's been assigned to the Senate's Assignments Committee and will then go for further action from there.
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