# Illinois House Bill to help contractors get paid faster!



## Grumpy (Oct 29, 2008)

The following is polotical in nature, but has to do with Illinois Roofign contractors in a viry direct way. I got this email moments ago from Linda McHugh from the Chicago Roofing Contractor's Association




> Dear Illinois Construction Professionals:
> 
> Prior to Feb. 25, 2011, lenders were the preferred in a foreclosure action to the extent of the value of the land, while the various contractors and suppliers were preferred to the value of the improvements built on the property. After this date, the decision commonly called the “Cypress Creek Act” overturned this, giving the lenders priority on both the value of the land and the value of the improvements erected on the property.
> 
> ...



In other words if you file a lien as a contractor currently the banks get paid first. However the bill will give contractors and material suppliers position over the lenders. Meaning now you might not get paid if there is a foreclosure, if the bill passes you WILL get paid! 



Contact your representatives. Ask all your employees to do the same. If you contact Linda McHugh, she will provide you with a sample letter and even help you ini locating your representatives.


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## dDubya (Dec 21, 2012)

Woohoo! It's about time!

Thanks for sharing.


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## Grumpy (Oct 29, 2008)

I got this in today's email from the CRCA...



> Dear Illinois Construction Friends of CRCA,
> 
> I’m very happy to announce that HB 3636 passed the Illinois House Monday, with a vote of 60 “Yes”, 44 “No” and 9 “Present” and on to Governor Quinn’s desk for signature! Thank you to all who reached out to legislators to ask for their support……they listened!
> 
> ...


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