SAVIANO. (PETERSON) New Act 5 ILCS 80/4.20 new 765 ILCS 85/Act rep. Creates the Land Sales Registration Act of 1999 and repeals the Land Sales Registration Act of 1989. Amends the Regulatory Sunset Act. Requires registration with the Office of Banks and Real Estate before offering lands located outside Illinois for sale to Illinois residents. Provides requirements for registration, including fees. Provides standards for sales contracts relating to lands covered by the Act and for other business practices relating to sale of lands covered by the Act. Provides for penalties for violations of the Act, including a civil penalty not to exceed $25,000 for certain violations. Makes certain conduct in connection with making a false statement or misrepresentation concerning lands for sale a Class 4 felony. Provides that the Land Sales Registration Act of 1999 is repealed on December 31, 2009. Effective December 30, 1999. FISCAL NOTE (Department of Corrections) There will be minimal fiscal and population impact. CORRECTIONAL NOTE (Department of Corrections) Same as DOC fiscal note. 99-02-22 H FILED WITH CLERK 99-02-22 H FIRST READING 99-02-22 H REFERRED TO HOUSE RULES COMMITTEE RULES 99-02-24 H ASSIGNED TO COMMITTEE JUD-CIVIL LAW 99-03-03 H DO PASS/SHORT DEBATE 011-000-000 HJUA 99-03-03 H PLACED CALENDAR 2ND READING-SHORT DEBATE 99-03-16 H SECOND READING-SHORT DEBATE 99-03-16 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE 99-03-17 H PLCD CAL ORDER 3RD READING-SHORT DEBATE 99-03-19 H THIRD READING/SHORT DEBATE/PASSED 110-008-000 99-03-22 S ARRIVE IN SENATE 99-03-22 S PLACED CALENDAR ORDER OF FIRST READING 99-03-23 99-03-25 S CHIEF SPONSOR PETERSON 99-03-25 S FIRST READING 99-03-25 S REFERRED TO SENATE RULES COMMITTEE RULES 99-03-26 S FISCAL NOTE FILED 99-03-26 S CORRECTIONAL NOTE FILED 99-04-20 S ASSIGNED TO COMMITTEE EXECUTIVE 99-04-29 S DO PASS 011-000-000 SEXC 99-04-29 S PLACED ON CALENDAR ORDER OF 2ND READING 99-05-04 99-05-04 S SECOND READING 99-05-04 S PLACED ON CALENDAR ORDER OF 3RD READING 99-05-05 99-05-06 S THIRD READING - PASSED 058-000-000 99-05-06 H PASSED BOTH HOUSES 99-06-04 H SENT TO THE GOVERNOR 99-07-29 H GOVERNOR APPROVED 99-07-29 H EFFECTIVE DATE 99-12-30 99-07-29 H PUBLIC ACT.............................. 91-0338 END OF INQUIRY Full Text Bill Summary