Why does the emergency brake light stay on but the emergency brake or hill brake or whatever you wanna call it isn't engaged ? Could it be a sensor ? Or a malfunction ?

The emergency brake,is controlled by cable to the back brake shoe,s,not pad,s on the rear of your truck,they are inside the hub,if you haven,t replaced them it may be time to do it,when they wear out,this is why the light is staying on,may be as simple as adjusting them,if they are not worn.This will get the light to go off.

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One more thing ,make sure brake fluid is full.

it could be a couple of things. I own a 1994 K1500 Silverado and my brake light came on but when I engaged the parking brake it became brighter. long story short I found it to be heat related (ABS computer rectangle box next to master master cly) finally a GM mechanic diagnosed my problem and disconnected the lower pin assembly. all the abs controlled was the rear wheels only and how many years had I driven with out ABS rear brakes, I was asked. Do you know the cost to buy this piece of electronic control is any where from $600.00 to $900.00 even a salvage yard knows this. The other issues I had was brake light staying on push the parking brake on the light got brighter release the brake and grew dim. also the cruise control didn't work (drove me nuts-couldn't find trouble). had problem with transmission not shifting properly and you might know where it went into default (2nd gear) I was 200+ miles from home 30 miles from a hole in the wall town on a camping fishing trip. this problem would come and go and the last day as we were leaving I thought it is going to be along ride in 2nd gear it started working and I didn't shut it off until I pulled into drive way. did research found transmission sensor bad. it is located on my truck at the tail end of transmission pair of parrot nose pliers used carefully will remove and replace if no wrench available. hope this helps.

geo1942 called it for my truck. I have a 1994 Silverado 2500HD 4WD with the 6.5 Turbo Diesel and the 4L60E Tranny. My indications were Emergency Brake light illuminated on the dash. The transmission would hard shift (slam) from 1st to 2nd gear and stick in 2nd. The speedometer would bounce between 0-30 mph. When it would shift to 3/4 gear, the motor would surge and the transmission would slip badly, while the speedometer would go crazy. I replaced the $90.00 Speed sensor mounted on the transfer case and viola! My truck runs like I have a new transmission in it. For the past 3 years or so, I have had shifting problems with my tranny. Hard shifting into 2nd and occasionally slipping in 3rd and 4th gears. Since I replaced the sensor it's as if I replaced the transmission. It shifts smoothly again, and no slippage in 3/4th gears. Even when pushing the pedal and downshifting on the highway. It's great to have a smooth running tranny again. Who'd of thunk it that a Speed Sensor could cause so many problems? Thanks you geo1942!