Bill Amendment: IL HB2850 | 2025-2026 | 104th General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

---

Bill Title: STUDENT LOAN SERVICING RIGHTS

Status: 2025-04-11 - House Floor Amendment No. 2 Rule 19(c) / Re-referred to Rules Committee [HB2850 Detail]

Download: Illinois-2025-HB2850-House_Amendment_002.html

---

Rep. Maurice A. West, II

Filed: 3/24/2025

10400HB2850ham002 LRB104 12120 BAB 24223 a
AMENDMENT TO HOUSE BILL 2850
AMENDMENT NO. ______. Amend House Bill 2850 on page 17,
immediately below line 17, by inserting the following:
"The requirements for repayment options in subsection (k)
of Section 5-30 apply to this Section."; and
on page 22, line 7, by replacing "paragraph (7)" with
"subsection (b)"; and
on page 22, immediately below line 12, by inserting the
following:
"(110 ILCS 992/7-41 new)
Sec. 7-41. Refinancing. Before offering a person an EISA
that is being used to refinance an existing loan, an EISA
provider shall provide the person with a disclosure explaining
that the benefits and protections applicable to the existing
loan may be lost due to the refinancing. The disclosure must be

10400HB2850ham002 - 2 - LRB104 12120 BAB 24223 a
provided on a one-page information sheet in at least 12-point
type and must be written in simple, clear, understandable, and
easily readable language."; and
on page 22, immediately below line 19, by inserting the
following:
"(c) The requirements for total and permanent disability
of a borrower or cosigner in subsections (b) through (e) of
Section 5-85 that apply to borrowers apply to this Section.";
and
on page 27, line 2, by replacing "submit." with "submit;"; and
on page 32, line 2, by deleting "or cosigner".