Bill Status of SB 1193   93rd General Assembly

Short Description:  CONS INST LOAN PRACTICES

Senate Sponsors
Sen. Kimberly A. Lightford-Dan Rutherford-Jeffrey M. Schoenberg

House Sponsors
(Rep. Michael J. Madigan-Charles G. Morrow III-David E. Miller-Robert Rita)


Last Action  View All Actions

DateChamber Action
  1/11/2005SenateSession Sine Die

Statutes Amended In Order of Appearance
205 ILCS 670/1.5 new
205 ILCS 670/8.2 new
205 ILCS 670/15dfrom Ch. 17, par. 5419
205 ILCS 670/17.1 new
205 ILCS 670/17.2 new
205 ILCS 670/17.3 new
205 ILCS 670/17.4 new
205 ILCS 670/17.5 new
205 ILCS 670/22.1 new
720 ILCS 5/17-1afrom Ch. 38, par. 17-1a

Synopsis As Introduced
Amends the Consumer Installment Loan Act. Provides for the regulation of deferred deposit lenders. Limits the number of times a deferred deposit loan may be refinanced. Requires deferred deposit lenders to make disclosures concerning the availability of debt management services. Amends the Criminal Code of 1961 to provide that deferred deposit lenders may not collect treble damages for unpaid checks. Effective October 1, 2003.

Senate Committee Amendment No. 1
Deletes reference to:
205 ILCS 670/1.5 new
205 ILCS 670/8.2 new
205 ILCS 670/15.d
205 ILCS 670/17.1 new
205 ILCS 670/17.2 new
205 ILCS 670/17.3 new
205 ILCS 670/17.4 new
205 ILCS 670/17.5 new
205 ILCS 670/22.1 new
720 ILCS 5/17-1a
Adds reference to:
205 ILCS 670/8from Ch. 17, par. 5408

Replaces the title and everything after the enacting clause. Amends the Consumer Installment Loan Act. Makes technical changes in a Section concerning annual license fees.

Actions 
DateChamber Action
  2/20/2003SenateFiled with Secretary by Sen. Kimberly A. Lightford
  2/20/2003SenateFirst Reading
  2/20/2003SenateReferred to Rules
  2/27/2003SenateAssigned to Financial Institutions
  3/6/2003SenateAdded as Chief Co-Sponsor Sen. Dan Rutherford
  3/6/2003SenatePostponed - Financial Institutions
  3/7/2003SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Kimberly A. Lightford
  3/7/2003SenateSenate Committee Amendment No. 1 Referred to Rules
  3/11/2003SenateSenate Committee Amendment No. 1 Rules Refers to Financial Institutions
  3/13/2003SenateSenate Committee Amendment No. 1 Adopted
  3/13/2003SenateDo Pass as Amended Financial Institutions; 006-000-000
  3/13/2003SenatePlaced on Calendar Order of 2nd Reading March 18, 2003
  3/13/2003SenateAdded as Chief Co-Sponsor Sen. Jeffrey M. Schoenberg
  3/18/2003SenateSecond Reading
  3/18/2003SenatePlaced on Calendar Order of 3rd Reading March 19, 2003
  4/4/2003SenateThird Reading - Passed; 054-002-000
  4/4/2003HouseArrived in House
  4/4/2003HousePlaced on Calendar Order of First Reading
  4/7/2003HouseChief House Sponsor Rep. Michael J. Madigan
  4/8/2003HouseFirst Reading
  4/8/2003HouseReferred to Rules Committee
  4/9/2003HouseAssigned to Executive Committee
  4/10/2003HouseAdded Alternate Chief Co-Sponsor Rep. Charles G. Morrow, III
  4/10/2003HouseAdded Alternate Chief Co-Sponsor Rep. David E. Miller
  4/10/2003HouseAdded Alternate Chief Co-Sponsor Rep. Robert Rita
  5/2/2003HouseRule 19(a) / Re-referred to Rules Committee
  1/11/2005SenateSession Sine Die

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