IL SB0634

Amends the State Employees Group Insurance Act of 1971 by adding Section 6.12a to establish a vendor payment program for dentists providing services to state employees.

Allows the Department of Central Management Services to permit qualified purchasers to buy accounts receivable owed by the State to participating dentist vendors.

Purchase price for accounts receivable shall be determined by the Department of Central Management Services and is subject to any State offset, with the purchase price equaling 100% of the base invoice amount as determined by the State Comptroller.

Participating dentists must assign all rights to payment of the purchased account receivable to the qualified purchaser, including all current and future prompt payment penalties due under the State Prompt Payment Act.

Takes effect upon becoming law.