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Governor Pritzker has proposed a 6-year, $41.5 billion capital plan, titled “Rebuild Illinois” that includes funding for both horizontal (transportation related projects) and vertical construction projects.
The proposal released on Friday includes the following funding allocations for capital projects:
The proposal also included proposed funding mechanisms that include a combination of bonding and $1.8 billion in new or higher taxes.
The plan released Friday also lists some of the proposed construction projects throughout the state. The Pritzker Administration has stated this proposal is a continued work in progress and all projects and funding mechanisms will continue to be debated with stakeholders. The proposals listed here will likely change as lawmakers and other interested parties continue to hash out the details of a final capital plan. We anticipate seeing the Governor’s capital plan introduced as legislation within the next couple of days. As a reminder, the Illinois General Assembly is scheduled to adjourn May 31st. Lawmakers have a lot of work to complete in the next eleven days.
Yesterday's live webinar on Unfunded Pension Liability has been recorded and is now available in the Education section.
Classes are now available at the NCIFTI for April and May. Classes include OSHA 30, Fall Protection, Supported Scaffold User along with many others. Class sizes are limited, so please contact the NCIFTI to reserve your spot and ensure class availability.
To register for an upcoming class, contact the NCIFTI Office by phone (630.966.1451) or email (firstname.lastname@example.org), or log into the My Union Member website (www.pdc30.com) to register online.
IMSCA’s initiative, SB 1636 seeking retainage reform passed the Senate Judiciary Committee today on a vote of 7-2. The bill now advances to the Senate floor where it will be heard by the full Senate. If you haven’t already reached out to your Senator asking for their support and a “yes” vote – now is the time.
As a reminder, SB 1636 amends the Contractor Prompt Payment Act and allows retainage to be withheld at a rate of 10% for the first half of a construction project, but has to be reduced to 5% once the project is completed. This bill will only apply to private, commercial construction projects.
Legislators listen to feedback from their constituents and your voice in reaching out to your Senator will be very helpful to our efforts in Springfield. If you don’t know who your legislator is, you can use this link to find out: https://www.elections.il.gov/districtlocator/addressfinder.aspx
Become a Contractor Member or Associate Member today and start enjoying our great membership benefits.