Much Ado About Nothing
- Bethany Harvey
- July 5, 2012
Many contractors may already be much too familiar with Cypress Creek, the Supreme Court decision that went into effect in February 2011 and overwrote sections of the long-held Illinois Mechanics Lien Act. For the Builders Association Government Relations Committee, no other legislative bill is proving to be as crucial to the construction industry as HB 3636.
“This year, the number one thing that would have had the biggest impact [on the construction industry] is HB 3636,” says Jeff Glass of Capitol Consulting Group, who serves as the Government Relations Committee’s lobbyist.
As mentioned in the May 24 Builder Blast, Cypress Creek changed the terms in the Illinois Mechanics Lien Act regarding payments to contractors and lenders in mechanics lien foreclosures. Because of Cypress Creek, funds that were formerly shared between lenders and mechanics lien claimants are now given primarily to lenders while contractors, subcontractors, and other lien claimants can no longer receive the funds they relied on while the Illinois Mechanics Lien Act was in effect.
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