Illinois · Senate Bill 2729 · 103rd General Assembly

GOVERNMENT CONTRACT RETAINAGE

SB 2729 Sponsored by Willie Preston Died in committee

  1. Introduced Jan 12, 2024
  2. In committee Jan 12, 2024
  3. Died  
  4. Passed the House  
  5. To the governor  
  6. Became law  

What it does

The legislature's own summary of the bill, or its official long title.

Creates the Government Contract Retainage Act. Defines terms, including that "retainage" means a portion of money withheld from the payment of a contract for a specified period of time to ensure that a contractor or subcontractor finishes a construction project completely and finishes in the manner specified in the contract. Provides that interest shall accrue monthly on the first day of each month on retainage…

Read the full title (134 words)

Creates the Government Contract Retainage Act. Defines terms, including that "retainage" means a portion of money withheld from the payment of a contract for a specified period of time to ensure that a contractor or subcontractor finishes a construction project completely and finishes in the manner specified in the contract. Provides that interest shall accrue monthly on the first day of each month on retainage withheld by a governmental unit at a specified rate set by the State Treasurer. Requires retainage withheld by a governmental unit to be paid not more than 60 days after being retained, including interest accrued, unless the retainage was withheld on the last pay period of a project shall, which shall be paid not more than 120 days after being retained. Limits the concurrent exercise of home rule powers.

Every action

37 steps, oldest first, as the legislature records them.

Show the 29 earlier steps
  1. SenateFiled with Secretary by Sen. Ram Villivalam
  2. SenateFirst Reading
  3. CommitteeReferred to Assignments · Senate Assignments
  4. SenateChief Sponsor Changed to Sen. Willie Preston
  5. CommitteeAssigned to Executive · Senate Executive
  6. SenateAdded as Chief Co-Sponsor Sen. Javier L. Cervantes
  7. CommitteeTo Subcommittee on Procurement · Senate Procurement
  8. SenateAdded as Chief Co-Sponsor Sen. Ram Villivalam
  9. SenateAdded as Co-Sponsor Sen. Rachel Ventura
  10. SenateSponsor Removed Sen. Rachel Ventura
  11. SenateAdded as Chief Co-Sponsor Sen. Rachel Ventura
  12. SenateAdded as Chief Co-Sponsor Sen. Mattie Hunter
  13. SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Willie Preston
  14. CommitteeSenate Committee Amendment No. 1 Referred to Assignments · Senate Assignments
  15. CommitteeSenate Committee Amendment No. 1 Assignments Refers to Executive · Senate Assignments
  16. CommitteeSenate Committee Amendment No. 1 To Subcommittee on Procurement · Senate Procurement
  17. SenateRule 2-10 Committee Deadline Established As April 5, 2024
  18. SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Willie Preston
  19. CommitteeSenate Committee Amendment No. 2 Referred to Assignments · Senate Assignments
  20. CommitteeSenate Committee Amendment No. 2 Assignments Refers to Executive · Senate Assignments
  21. SenateSenate Committee Amendment No. 3 Filed with Secretary by Sen. Willie Preston
  22. CommitteeSenate Committee Amendment No. 3 Referred to Assignments · Senate Assignments
  23. SenateRule 2-10 Committee Deadline Established As May 3, 2024
  24. CommitteeSenate Committee Amendment No. 3 Assignments Refers to Executive · Senate Assignments
  25. SenateAdded as Co-Sponsor Sen. Adriane Johnson
  26. CommitteeSenate Committee Amendment No. 2 To Subcommittee on Procurement · Senate Procurement
  27. CommitteeSenate Committee Amendment No. 3 To Subcommittee on Procurement · Senate Procurement
  28. SenateRule 2-10 Third Reading Deadline Established As May 3, 2024
  29. SenateRule 2-10 Committee/3rd Reading Deadline Established As May 17, 2024
  1. SenateRule 2-10 Committee Deadline Established As May 24, 2024
  2. SenateRule 2-10 Committee/3rd Reading Deadline Established As May 25, 2024
  3. SenateRule 2-10 Committee/3rd Reading Deadline Established As May 26, 2024
  4. CommitteeSenate Committee Amendment No. 1 Pursuant to Senate Rule 3-9(b) / Referred to Assignments · Senate Assignments
  5. CommitteeSenate Committee Amendment No. 2 Pursuant to Senate Rule 3-9(b) / Referred to Assignments · Senate Assignments
  6. CommitteeSenate Committee Amendment No. 3 Pursuant to Senate Rule 3-9(b) / Referred to Assignments · Senate Assignments
  7. CommitteePursuant to Senate Rule 3-9(b) / Referred to Assignments · Senate Assignments
  8. SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 5 cosponsors: 5 Democrats.

All 5 cosponsors

From Illinois's official records (www.ilga.gov), checked Nov 13, 2026. Text links go to the official versions; LegiList does not copy bill text.