Bill Amendment: IL SB2234 | 2023-2024 | 103rd General Assembly

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: BUSINESS TRUTH IN LENDING ACT

Status: 2024-05-31 - Rule 19(a) / Re-referred to Rules Committee [SB2234 Detail]

Download: Illinois-2023-SB2234-Senate_Amendment_002.html

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Sen. Christopher Belt

Filed: 3/8/2024

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AMENDMENT TO SENATE BILL 2234
AMENDMENT NO. ______. Amend Senate Bill 2234 by replacing
everything after the enacting clause with the following:
"Section 1. Short title. This Act may be cited as the
Consumer Protections for Small Business Act.
Section 2. Purpose and construction. The purpose of this
Act is to protect business owners. This Act shall be liberally
construed to effectuate its purpose.
Section 5. Definitions. As used in this Act:
"Applicant" means a person who has submitted an
application for a license under this Act.
"Closed-end financing" means a closed-end extension of
credit, secured or unsecured, recourse or nonrecourse,
including equipment financing that does not meet the
definition of a lease under Section 2A-103 of the Uniform

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Commercial Code, that the recipient does not intend to use for
personal, family, or household purposes. "Closed-end
financing" includes financing with an established principal
amount and duration.
"Commercial financing database" means a reporting database
certified by the Department as effective in receiving a report
of commercial financing made under this Act.
"Commercial financing database provider" means an entity
that provides a reporting database certified by the Department
under this Act.
"Commercial financing" means open-end financing,
closed-end financing, sales-based financing, factoring
transaction, or other form of financing, the proceeds of which
the recipient does not intend to use primarily for personal,
family, or household purposes. For purposes of determining
whether a financing is a commercial financing, the provider
may rely on any statement of intended purposes by the
recipient. The statement may be a separate statement signed by
the recipient; may be contained in the financing application,
financing agreement, or other document signed or consented to
by the recipient; or may be provided orally by the recipient so
long as it is documented in the recipient's application file
by the provider. Electronic signatures and consents are valid
for purposes of the foregoing sentence. The provider shall not
be required to ascertain that the proceeds of a commercial
financing are used in accordance with the recipient's

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statement of intended purposes.
"Department" means the Department of Financial and
Professional Regulation.
"Division of Financial Institutions" or "Division" means
the Division of Financial Institutions of the Department of
Financial and Professional Regulation.
"Factoring transaction" means an accounts receivable
purchase transaction that includes an agreement to purchase,
transfer, or sell a legally enforceable claim for payment held
by a recipient for goods the recipient has supplied or
services the recipient has rendered that have been ordered but
for which payment has not yet been made.
"Finance charge" means the cost of financing as a dollar
amount. "Finance charge" includes any charge payable directly
or indirectly by the recipient and imposed directly or
indirectly by the provider as an incident to or a condition of
the extension of financing. "Finance charge" includes any
charges as determined by the Secretary. For the purposes of an
open-end financing, "finance charge" means the maximum amount
of credit available to the recipient, in each case, that is
drawn and held for the duration of the term or draw period. For
the purposes of a factoring transaction, "finance charge"
includes the discount taken on the face value of the accounts
receivable. In addition, the finance charge shall include any
charges determined by the Secretary.
"Open-end financing" means an agreement for one or more

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extensions of open-end credit, secured or unsecured, that the
recipient does not intend to use the proceeds of primarily for
personal, family, or household purposes. "Open-end financing"
includes credit extended by a provider under a plan in which:
(i) the provider reasonably contemplates repeated
transactions; (ii) the provider may impose a finance charge
from time to time on an outstanding unpaid balance; and (iii)
the amount of credit that may be extended to the recipient
during the term of the plan is generally made available to the
extent that any outstanding balance is repaid.
"Person" means an individual, entity, corporation,
partnership, limited liability company, joint venture,
association, joint stock company, trust, or unincorporated
organization, including, but not limited to, a sole
proprietorship.
"Provider" means a person who extends a specific offer of
commercial financing to a recipient. "Provider", unless
otherwise exempt, includes a person who solicits and presents
specific offers of commercial financing on behalf of a third
party. The mere extension of a specific offer or provision of
disclosures for a commercial financing, is not sufficient to
conclude that a provider is originating, making, funding, or
providing commercial financing. "Provider" does not include:
(1) a bank, trust company, or industrial loan company,
or any subsidiary or affiliate thereof, doing business
under the authority of, or in accordance with, a license,

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certificate or charter issued by the United States, this
State, or any other state, district, territory, or
commonwealth of the United States that is authorized to
transact business in this State;
(2) a federally chartered savings and loan
association, federal savings bank, or federal credit
union, or any subsidiary or affiliate thereof, that is
authorized to transact business in this State;
(3) a savings and loan association, savings bank, or
credit union, or any subsidiary or affiliate thereof,
organized under the laws of this State or any other state
that is authorized to transact business in this State;
(4) a lender regulated under the federal Farm Credit
Act; and
(5) a person acting as a technology services provider
to an entity described by sub-paragraphs (1), (2), or (3)
for use as part of that entity's commercial financing
program, provided the person has no interest, or
arrangement, or agreement to purchase any interest in the
commercial financing extended by the entity in connection
with the program.
"Recipient" means a person who applies for commercial
financing and is made a specific offer of commercial financing
by a provider. "Recipient" includes an authorized
representative of a person who applies for commercial
financing and is made a specific offer of commercial financing

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by a provider. "Recipient" does not include a person acting as
a broker is not a recipient in a transaction they broker.
"Sales-based financing" means a transaction that is repaid
by the recipient to the provider, over time, as a percentage of
sales or revenue, in which the payment amount may increase or
decrease according to the volume of sales made or revenue
received by the recipient or a transaction that includes a
true-up mechanism where the financing is repaid as a fixed
payment but provides for a reconciliation process that adjusts
the payment to an amount that is a percentage of sales or
revenue.
"Secretary" means the Secretary of Financial and
Professional Regulation or a person authorized by the
Secretary to perform the Secretary's responsibilities under
this Act.
"Specific offer" means the specific terms of commercial
financing, including price or amount, that is quoted to a
recipient based on information obtained from or about the
recipient that, if accepted by a recipient, shall be binding
on the provider, as applicable, subject to any specific
requirements stated in the specific terms.
Section 10. Applicability.
(a) Except as otherwise provided in this Section, this Act
applies to any person that offers or provides commercial
financing in Illinois or is otherwise a provider.

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(b) The provisions of this Act apply to any person that
seeks to evade its applicability by any device, subterfuge, or
pretense whatsoever.
(c) The provisions of this Act apply to any person that
aids or facilitates a violation of this Act.
(d) The provisions of this Act do not apply to:
(1) a bank, trust company, or industrial loan company
doing business under the authority of, or in accordance
with, a license, certificate or charter issued by the
United States, this State, or any other state, district,
territory, or commonwealth of the United States that is
authorized to transact business in this State;
(2) a federally chartered savings and loan
association, federal savings bank, or federal credit union
that is authorized to transact business in this State;
(3) a savings and loan association, savings bank, or
credit union organized under the laws of this State or any
other state that is authorized to transact business in
this State;
(4) a lender regulated under the federal Farm Credit
Act; and
(5) a person acting in the person's capacity as a
technology services provider to an entity described by
sub-paragraphs (1), (2), or (3) for use as part of that
entity's commercial financing program, provided the person
has no interest, or arrangement, or agreement to purchase

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any interest in the commercial financing extended by the
entity in connection with the program.
Section 15. Division of Financial Institutions. This Act
shall be administered by the Division on behalf of the
Secretary.
Section 20. Licensure requirement. No person shall engage
in the conduct regulated by this Act without licensure under
this Act. Any Person who provides commercial financing without
the license required by this Act is guilty of a Class 4 felony.
The Secretary shall be empowered to investigate any person
they believe may require licensure under this Act including,
but not limited to, compelling production of testimony, books,
records, or any other information necessary for the Secretary
to determine whether the Person requires licensure.
Section 25. Licensee name. No person providing commercial
financing may operate the business under a name other than the
real names of the entity and individuals conducting the
business. The business may operate under an assumed corporate
name under the Business Corporation Act of 1983, an assumed
limited liability company name under the Limited Liability
Company Act, or an assumed business name under the Assumed
Business Name Act with written authorization from the
Secretary. Each licensee shall update its name with the

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Department within 10 days after the change of name.
Section 30. Application process; investigation; fees.
(a) The Secretary may issue a license to a person after the
person completes all of the following:
(1) the filing of an application for license with the
Secretary or a multistate licensing system as approved by
the Secretary;
(2) the filing with the Secretary or a multistate
licensing system as approved by the Secretary of a listing
of judgments entered against, and bankruptcy petitions by,
the applicant for the preceding 10 years;
(3) the payment, in certified funds, of investigation
and application fees, the total of which shall be in an
amount equal to $2,500; and
(4) the filing of an audited balance sheet, including
all footnotes prepared by a certified public accountant in
accordance with generally accepted accounting principles
and generally accepted auditing standards; notwithstanding
the requirements of this paragraph, an applicant that is a
subsidiary may submit audited consolidated financial
statements of its parent, intermediary parent, or ultimate
parent as long as the consolidated statements are
supported by consolidating statements that include the
applicant's financial statement; if the consolidating
statements are unaudited, the applicant's chief financial

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officer shall attest to the applicant's financial
statements disclosed in the consolidating statements.
(b) The Secretary may, for good cause shown, waive or
modify the requirements of subsection (a).
(c) Upon receipt of the license, a licensee is authorized
to engage in conduct regulated by this Act. The license shall
remain in full force and effect until it expires, is
surrendered by the licensee, or is revoked or suspended as
provided in this Act.
(d) The Secretary may impose conditions on a license if
the Secretary determines that those conditions are necessary
or appropriate. These conditions shall be imposed in writing
and shall continue in effect for the period prescribed by the
Secretary.
Section 35. Application form.
(a) Application for a license shall be made in accordance
with this Act, and in accordance with requirements of the
multistate licensing system, if required by the Secretary. The
application shall be in writing, under oath, and on a form
obtained from and prescribed by the Secretary. The Secretary
may change or update the form to carry out the purposes of this
Act. The Secretary may require part or all of the application
to be submitted electronically, with attestation, to the
multistate licensing system.
(b) The application shall contain the name and complete

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business and residential address or addresses of the
applicant. The application shall also include a description of
the activities of the applicant in detail and for the periods
as the Secretary may require, including all of the following:
(1) an affirmation that the applicant and its members,
directors, or principals, as may be appropriate, are at
least 18 years of age;
(2) information as to the name, complete business
address, complete residential address, character, fitness,
financial and business responsibility, background,
experience, and criminal record of any:
(i) person, including an ultimate equitable owner,
that directly or indirectly owns or controls 10% or
more of any class of stock of the applicant;
(ii) person, including an ultimate equitable owner
that is not a depository institution, as defined in
the Savings Bank Act, that lends, provides, or
infuses, directly or indirectly, in any way, funds to
or into an applicant in an amount equal to or more than
10% of the applicant's net worth;
(iii) person, including an ultimate equitable
owner that controls, directly or indirectly, the
election of 25% or more of the members of the board of
directors of an applicant;
(iv) person, including an ultimate equitable owner
that the Secretary finds influences the management of

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the applicant;
(v) director or directors of an applicant; and
(vi) principal officers of an applicant; and
(3) other information as required by the Secretary to
assess whether the applicant and its owners, officers, and
directors have the financial responsibility, financial
condition, business experience, character, and general
fitness to justify the confidence of the public and that
the applicant and its owners, officers, and directors are
fit, willing, and able to carry on the proposed business
in a lawful and fair manner.
Section 40. Additional license application information.
(a) In order to fulfill the purposes of this Act, the
Secretary may establish relationships or contracts with a
multistate licensing system or other persons to collect and
maintain records and process fees related to licensees or
other persons subject to this Act.
(b) In connection with an application for licensing, the
applicant, owners, officers, and directors of an applicant may
be required, at a minimum, to furnish to the Secretary or
multistate licensing system information concerning the
applicant's, owners', officers' and directors' identity,
including personal history and experience in a form prescribed
by the Secretary or multistate licensing system, including,
but not limited to:

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(1) a complete and accurate copy of an independent
credit report obtained from a consumer reporting agency
described in Section 603(p) of the Fair Credit Reporting
Act (15 U.S.C. 1681a(p)); and
(2) information related to any administrative, civil,
or criminal findings by any governmental jurisdiction.
(c) For the purposes of this Section, and to reduce the
points of contact that the Secretary may have to maintain, the
Secretary may use a multistate licensing system as a
channeling agent for requesting and distributing information
to and from any source.
(d) Each application shall be accompanied by averments as
determined by the Secretary to fulfill the purposes of this
Act.
(e) Each applicant shall furnish to the Secretary or
multistate licensing system an updated business address within
10 days after any change of business address.
Section 45. Refusal to issue or renew license. The
Secretary may refuse to issue or renew a license if:
(1) the Secretary determines that the applicant has
not complied with a provision of this Act, its
implementing rules, or other laws that apply to the
applicant;
(2) the Secretary determines that there is substantial
continuity between the applicant and any violator of this

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Act, its implementing rules, or other laws that apply to
the applicant or related violator; or
(3) the Secretary determines that the applicant or its
owners, officers, or directors do not have the financial
responsibility, financial condition, business experience,
character, and general fitness of to justify the
confidence of the public and that the license applicant
and its owners, officers, and directors are fit, willing,
and able to carry on the proposed business in a lawful and
fair manner.
Section 50. License issuance and renewal.
(a) Licensees shall apply to renew their license every
calendar year. Licensees may submit properly completed renewal
application forms and filing fees 60 days before the license
expiration date and the same shall be received by the
Secretary at least 30 days before the license expiration date.
(b) Each licensee shall timely renew its license. Absent a
written extension from the Department, a license shall expire
on December 31 if a licensee fails to timely submit a properly
completed renewal application form and fees.
(c) No activity regulated by this Act shall be conducted
by a licensee whose license has expired. The Secretary may,
within the Secretary's discretion, reinstate an expired
license upon payment of the renewal fee, payment of a
reactivation fee equal to 5 times the renewal fee, submission

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of a completed renewal application, and an affidavit of good
cause for late renewal.
Section 55. Fees.
(a) The persons regulated by this Act shall bear the
expenses of administering this Act, including investigations
and examinations provided for in this Act. The Secretary may
establish fees by rule or modify fees in at least the following
categories:
(1) application and renewal fees;
(2) examination and investigation fees;
(3) change fees;
(4) contingent fees; and
(5) other fees as may be required to administer this
Act.
(b) The Secretary may modify any fees established by this
Act by rule one year after the effective date of this Act.
Section 60. Functions; powers; duties. The functions,
powers, and duties of the Secretary include, but are not
limited to, the following:
(1) to issue or refuse to issue any license or
renewal;
(2) to revoke or suspend for cause any license issued
under this Act;
(3) to keep records of all licenses issued under this

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Act;
(4) to receive, consider, investigate, and act upon
complaints made by any person in connection with any
licensee in this State or unlicensed commercial financing
activity of any person;
(5) to prescribe the forms of and receive:
(A) applications for licenses and renewals; and
(B) all reports and all books and records required
to be made by any licensee under this Act, including
annual audited financial statements if required by the
Secretary and annual reports of commercial financing
activity;
(6) to adopt rules necessary and proper for the
administration of this Act, to protect consumers, and
promote fair competition or otherwise authorized by this
Act;
(7) to subpoena documents and witnesses and compel
their attendance and production, to administer oaths, and
to require the production of any books, papers, or other
materials relevant to any inquiry authorized by this Act
or its implementing rules;
(8) to issue orders against any person if the
Secretary has reasonable cause to believe that an unsafe,
unsound, or unlawful practice has occurred, is occurring,
or is about to occur; if any person is violating, or is
about to violate any law, rule, or written agreement with

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the Secretary; or for the purpose of administering the
provisions of this Act and any rule adopted in accordance
with this Act;
(9) to address any inquiries to any licensee, or the
owners, officers, or directors thereof, in relation to its
activities and conditions, or any other matter connected
with its affairs, and any licensee or person so addressed
shall promptly reply in writing to those inquiries. The
Secretary may also require reports from any licensee at
any time the Secretary deems desirable;
(10) to examine the books and records of every
licensee under this Act or any person requiring a license
or who the Secretary reasonably believes may require a
license;
(11) to enforce provisions of this Act and its
implementing rules;
(12) to levy fees including, but not limited to,
assessments, examination fees, and licensing fees, civil
penalties, and charges for services performed in
administering this Act. The aggregate of all fees
collected by the Secretary under this Act shall be paid
promptly after receipt into the Financial Institution
Fund. The amounts deposited into the Financial Institution
Fund shall be used for the ordinary and contingent
expenses of the Department. Nothing in this Act prevents
paying expenses including salaries, retirement, social

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security, and State-paid insurance of State employees, or
any other expenses incurred under this Act by
appropriation from the General Revenue Fund or any other
fund;
(13) to issue refunds to licensees of any overpayment
for good cause shown;
(14) to appoint examiners, supervisors, experts, and
special assistants as needed to effectively and
efficiently administer this Act;
(15) to conduct hearings for the purpose of
suspensions, denials, or revocations of licenses, fining,
or other discipline of licensees or unlicensed persons or
entities;
(16) to exercise visitorial power over a licensee;
(17) to enter into cooperative agreements with state
regulatory authorities of other states to provide for
examination of corporate offices or branches of those
states, participate in joint examinations with other
regulators, and to accept reports of the examinations;
(18) to assign an examiner or examiners to monitor the
affairs of a licensee with whatever frequency the
Secretary determines appropriate and to charge the
licensee for reasonable and necessary expenses of the
Secretary if in the opinion of the Secretary an emergency
exists or appears likely to occur;
(19) to impose civil penalties of up to $200 per day

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against a licensee for failing to respond to a regulatory
request or reporting requirement; and
(20) to enter into agreements in connection with a
multistate licensing system.
Section 65. Examination; prohibited activities.
(a) The Secretary shall examine the business affairs of a
licensee under this Act as often as the Secretary deems
necessary and proper. The Secretary may adopt rules with
respect to the frequency and manner of examination. The
Secretary shall appoint a suitable person to perform the
examination. The Secretary and the Secretary's appointees may
examine the entire books, records, documents, and operations
of each licensee and its subsidiary, affiliate, or agent, and
may examine any of the licensee's or its subsidiaries',
owners, affiliates', or agents' officers, directors,
employees, and agents under oath.
(b) Affiliates of a licensee shall be subject to
examination by the Secretary on the same terms as the
licensee, but only when reports from or examination of a
licensee provides for documented evidence of unlawful activity
between a licensee and affiliate benefiting, affecting, or
deriving from the activities regulated by this Act.
(c) The expenses of any examination of the licensee or its
affiliates shall be borne by the licensee and assessed by the
Secretary as may be established by rule.

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(d) All confidential supervisory information, including
the examination report and the work papers of the report,
shall belong to the Secretary's office and may not be
disclosed to anyone other than the licensee, law enforcement
officials, or other regulatory agencies that have an
appropriate regulatory interest as determined by the Secretary
or to a party presenting a lawful subpoena to the Department.
The Secretary may, through the Attorney General, immediately
appeal to the court of jurisdiction the disclosure of the
confidential supervisory information and seek a stay of the
subpoena pending the outcome of the appeal. Reports required
of licensees by the Secretary under this Act and results of
examinations performed by the Secretary under this Act shall
be the property of only the Secretary, but may be shared with
the licensee. Any person demanded to produce the Department's
confidential supervisory information, whether by subpoena,
order, or other judicial or administrative process, shall
withhold production of the confidential supervisory
information and shall notify the Secretary of the demand. The
Secretary is authorized to intervene for the purpose of
enforcing the limitations of this Section or seeking the
withdrawal or termination of the attempt to compel production
of the confidential supervisory information. The Secretary may
impose any conditions and limitations on the disclosure of
confidential supervisory information that are necessary to
protect the confidentiality of that information. The Secretary

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may condition a decision to disclose confidential supervisory
information on entry of a protective order by the court or
administrative tribunal presiding in the particular case or on
a written agreement of confidentiality. If a protective order
or agreement has already been entered between parties other
than the Secretary, then the Secretary may nevertheless
condition approval for release of confidential supervisory
information upon the inclusion of additional or amended
provisions in the protective order. The Secretary may
authorize a party who obtained the records for use in one case
to provide them to another party in another case, subject to
any conditions that the Secretary may impose on either or both
parties. The requester shall promptly notify other parties to
a case of the release of confidential supervisory information
obtained and, upon entry of a protective order, shall provide
copies of confidential supervisory information to the other
parties.
Section 70. Subpoena power of the Secretary.
(a) The Secretary may issue and serve subpoenas and
subpoenas duces tecum to compel the attendance of witnesses
and the production of all books, accounts, records, and other
documents and materials relevant to an examination or
investigation. The Secretary, or the Secretary's duly
authorized representative, may administer oaths and
affirmations to any person.

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(b) If a person does not comply with the Secretary's
subpoena or subpoena duces tecum, the Secretary may, through
the Attorney General, petition the circuit court of the county
in which the subpoenaed person resides or has its principal
place of business for an order requiring the subpoenaed person
to testify and to comply with the subpoena duces tecum. The
court may grant injunctive relief restraining the person from
engaging in activity regulated by this Act. The court may
grant other relief, including, but not limited to, the
restraint, by injunction or appointment of a receiver, of any
transfer, pledge, assignment, or other disposition of the
person's assets, concealment, destruction, or other
disposition of books, accounts, records, or other documents
and materials, as the court deems appropriate, until the
person has fully complied with the subpoena or subpoena duces
tecum and the Secretary has completed an investigation or
examination.
(c) If it appears to the Secretary that the compliance
with a subpoena or subpoena duces tecum issued or caused to be
issued by the Secretary under this Section is essential to an
investigation or examination, the Secretary, in addition to
the other remedies provided for in this Act, may, through the
Attorney General, apply for relief to the circuit court of the
county in which the subpoenaed person resides or has its
principal place of business. The court shall thereupon direct
the issuance of an order against the subpoenaed person

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requiring sufficient bond conditioned on compliance with the
subpoena or subpoena duces tecum. The court shall cause to be
endorsed on the order a suitable amount of bond or payment
pursuant to which the person named be freed, having a due
regard to the nature of the case.
(d) In addition, the Secretary may, through the Attorney
General, seek a writ of attachment or an equivalent order from
the circuit court having jurisdiction over the person who has
refused to obey a subpoena, who has refused to give testimony,
or who has refused to produce the matters described in the
subpoena duces tecum.
Section 75. Reports required.
(a) Every licensee shall produce to the Department reports
the Secretary requests within 90 days after the Secretary's
request unless exigent circumstances require production in a
shorter timeframe.
(b) Every provider shall produce to the Department a
report of its commercial financing activity upon the request
of the Secretary. Every provider shall produce its report to
the Department within 90 days after the Secretary's request.
The Department may require reports under this subsection
before a provider shall become licensed under this Act.
Section 76. Sales-based financing disclosure requirements.
A provider subject to this Act shall provide the following

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disclosures to a recipient, in a manner prescribed by the
Secretary, if any, at the time of extending a specific offer of
sales-based financing:
(1) The total amount of the commercial financing, and,
if different from the financing amount, the disbursement
amount after any amount deducted or withheld at
disbursement.
(2) The finance charge.
(3) The estimated annual percentage rate, using the
words annual percentage rate or the abbreviation
"Estimated APR", expressed as a yearly rate, inclusive of
any fees and finance charges, based on the estimated term
of repayment and the projected periodic payment amounts.
The estimated term of repayment and the projected periodic
payment amounts shall be calculated based on the
projection of the recipient's sales, which may be referred
to as the projected sales volume. The projected sales
volume may be calculated using the historical method or
the underwriting method. The provider shall provide notice
to the Secretary on which method the provider intends to
use across all instances of sales-based financing offered
in calculating the estimated annual percentage rate under
this Section, according to the following:
(A) A provider using the historical method shall
use an average historical volume of sales or revenue
by which the financing's payment amounts are based and

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the estimated annual percentage rate is calculated.
The provider shall fix the historical time period used
to calculate the average historical volume and use the
period for all disclosure purposes for all sales-based
financing products offered. The fixed historical time
period shall either be the preceding time period from
the specific offer or, alternatively, the provider may
use average sales for the same number of months with
the highest sales volume within the previous 12
months. The fixed historical time period shall be no
less than one month and shall not exceed 12 months.
(B) A provider using the underwriting method shall
determine the estimated annual percentage rate, the
estimated term, and the projected payments, using a
projected sales volume that the provider elects for
each disclosure, if they participate in a review
process prescribed by the Secretary. A provider shall,
on an annual basis, report data to the Secretary of
estimated annual percentage rates disclosed to the
recipient and actual retrospective annual percentage
rates of completed transactions. The report shall
contain the information as the Department may adopt by
rule as necessary or appropriate for the purpose of
making a determination of whether the deviation
between the estimated annual percentage rate and
actual retrospective annual percentage rates of

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completed transactions was reasonable. The Secretary
shall establish the method of reporting and may, upon
a finding that the use of projected sales volume by the
provider has resulted in an unacceptable deviation
between estimated and actual annual percentage rate,
require the provider to use the historical method. The
Secretary may consider unusual and extraordinary
circumstances impacting the provider's deviation
between estimated and actual annual percentage rate in
the determination of the finding.
(4) The total repayment amount, which is the
disbursement amount plus the finance charge.
(5) The estimated term, which is the period of time
required for the periodic payments, based on the projected
sales volume, to equal the total amount required to be
repaid.
(6) The payment amounts, based on the projected sales
volume:
(A) for payment amounts that are fixed, the
payment amounts and frequency, such as, daily, weekly,
monthly, and, if the payment frequency is other than
monthly, the amount of the average projected payments
per month; or
(B) for payment amounts that are variable, a
payment schedule or a description of the method used
to calculate the amounts and frequency of payments and

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the amount of the average projected payments per
month.
(7) A description of all other potential fees and
charges not included in the finance charge, including, but
not limited to, draw fees, late payment fees, and returned
payment fees.
(8) If the recipient elects to pay off or refinance
the commercial financing before full repayment, the
provider shall disclose:
(A) whether the recipient would be required to pay
any finance charges other than interest accrued since
their last payment; if so, disclosure of the
percentage of any unpaid portion of the finance charge
and maximum dollar amount the recipient could be
required to pay; and
(B) whether the recipient would be required to pay
any additional fees not already included in the
finance charge.
(9) A description of collateral requirements or
security interests, if any.
Section 77. Closed-end commercial financing disclosure
requirements. A provider subject to this Act shall provide the
following disclosures to a recipient, in a manner prescribed
by the Secretary, if any, at the time of extending a specific
offer for closed-end financing:

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(1) The total amount of the commercial financing, and,
if different from the financing amount, the disbursement
amount after any amount deducted or withheld at
disbursement.
(2) The finance charge.
(3) The annual percentage rate, using only the words
annual percentage rate or the abbreviation "APR",
expressed as a yearly rate, inclusive of any fees and
finance charges that cannot be avoided by a recipient.
(4) The total repayment amount, which is the
disbursement amount plus the finance charge.
(5) The term of the financing.
(6) The payment amounts:
(A) for payment amounts that are fixed, the
payment amounts and frequency, such as daily, weekly,
monthly, and, if the term is longer than one month, the
average monthly payment amount; or
(B) for payment amounts that are variable, a full
payment schedule or a description of the method used
to calculate the amounts and frequency of payments,
and, if the term is longer than one month, the
estimated average monthly payment amount.
(7) A description of all other potential fees and
charges that can be avoided by the recipient, including,
but not limited to, late payment fees and returned payment
fees.

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(8) If the recipient elects to pay off or refinance
the commercial financing before full repayment, the
provider shall disclose:
(A) whether the recipient would be required to pay
any finance charges other than interest accrued since
their last payment; if so, disclosure of the
percentage of any unpaid portion of the finance charge
and maximum dollar amount the recipient could be
required to pay; and
(B) whether the recipient would be required to pay
any additional fees not already included in the
finance charge.
(9) A description of collateral requirements or
security interests, if any.
Section 78. Open-end commercial financing disclosure
requirements. A provider subject to this Act shall provide the
following disclosures to a recipient, in a manner prescribed
by the Secretary, if any, at the time of extending a specific
offer for open-end financing:
(1) The maximum amount of credit available to the
recipient, such as the credit line amount, and the amount
scheduled to be drawn by the recipient at the time the
offer is extended, if any, less any amount deducted or
withheld at disbursement.
(2) The finance charge.

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(3) The annual percentage rate, using only the words
annual percentage rate or the abbreviation "APR",
expressed as a nominal yearly rate, inclusive of any fees
and finance charges that cannot be avoided by a recipient,
and based on the maximum amount of credit available to the
recipient and the term resulting from making the minimum
required payments term as disclosed.
(4) The total repayment amount, which is the draw
amount, less any fees deducted or withheld at
disbursement, plus the finance charge. The total repayment
amount shall assume a draw amount equal to the maximum
amount of credit available to the recipient if drawn and
held for the duration of the term or draw period.
(5) The term of the plan, if applicable, or the period
over which a draw is amortized.
(6) The payment frequency and amounts, based on the
assumptions used in the calculation of the annual
percentage rate, including a description of payment amount
requirements such as a minimum payment amount, and if the
payment frequency is other than monthly, the amount of the
average projected payments per month. For payment amounts
that are variable, the provider should include a payment
schedule or a description of the method used to calculate
the amounts and frequency of payments and the estimated
average monthly payment amount.
(7) A description of all other potential fees and

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charges that can be avoided by the recipient, including,
but not limited to, draw fees, late payment fees, and
returned payment fees.
(8) Were the recipient to elect to pay off or
refinance the commercial financing before full repayment,
the provider shall disclose:
(A) whether the recipient would be required to pay
any finance charges other than interest accrued since
their last payment; if so, disclosure of the
percentage of any unpaid portion of the finance charge
and maximum dollar amount the recipient could be
required to pay; and
(B) whether the recipient would be required to pay
any additional fees not already included in the
finance charge.
(9) A description of collateral requirements or
security interests, if any.
Section 79. Factoring transaction disclosure requirements.
A provider subject to this Act shall provide the following
disclosures to a recipient, in a manner prescribed by the
Secretary, if any, at the time of extending a specific offer
for a factoring transaction:
(1) The amount of the receivables purchase price paid
to the recipient, and, if different from the purchase
price, the disbursement amount after any amount deducted

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or withheld at disbursement.
(2) The finance charge.
(3) The estimated annual percentage rate, using that
term. To calculate the estimated annual percentage rate,
the purchase amount is considered the financing amount,
the purchase amount minus the finance charge is considered
the payment amount, and the term is established by the
payment due date of the receivables. As an alternate
method of establishing the term, the provider may estimate
the term for a factoring transaction as the average
payment period based on its historical data over a period
not to exceed the previous 12 months, concerning payment
invoices paid by the party or parties owing the accounts
receivable in question.
(4) The total payment amount, which is the purchase
amount plus the finance charge.
(5) A description of all other potential fees and
charges that can be avoided by the recipient.
(6) A description of the receivables purchased and any
additional collateral requirements or security interests.
Section 80. Other forms of financing disclosure
requirements. The Secretary may require disclosure by a
provider extending a specific offer of commercial financing
which is not an open-end financing, closed-end financing,
sales-based financing, or factoring transaction but otherwise

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meets the definition of commercial financing. Subject to rules
adopted by the Secretary, a provider subject to this Act shall
provide the following disclosures to a recipient, in a manner
prescribed by the Secretary, if any, at the time of extending a
specific offer of other forms of financing:
(1) The total amount of the commercial financing, and,
if different from the financing amount, the disbursement
amount after any fees deducted or withheld at
disbursement.
(2) The finance charge.
(3) The annual percentage rate, using only the words
annual percentage rate or the abbreviation "APR",
expressed as a yearly rate, inclusive of any fees and
finance charges.
(4) The total repayment amount which is the
disbursement amount plus the finance charge.
(5) The term of the financing.
(6) The payment amounts:
(A) for payment amounts that are fixed, the
payment amounts and frequency, such as daily, weekly,
monthly, and the average monthly payment amount; or
(B) for payment amounts that are variable, a
payment schedule or a description of the method used
to calculate the amounts and frequency of payments,
and the estimated average monthly payment amount.
(7) A description of all other potential fees and

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charges that can be avoided by the recipient, including,
but not limited to, late payment fees and returned payment
fees.
(8) If the recipient elects to pay off or refinance
the commercial financing before full repayment, the
provider shall disclose:
(A) whether the recipient would be required to pay
any finance charges other than interest accrued since
their last payment; if so, disclosure of the
percentage of any unpaid portion of the finance charge
and maximum dollar amount the recipient could be
required to pay; and
(B) whether the recipient would be required to pay
any additional fees not already included in the
finance charge.
(9) A description of collateral requirements or
security interests, if any.
Section 81. Disclosure requirements for renewal financing.
If, as a condition of obtaining the commercial financing, the
provider requires the recipient to pay off the balance of an
existing commercial financing from the same provider, the
provider shall disclose:
(1) The amount of the new commercial financing that is
used to pay off the portion of the existing commercial
financing that consists of prepayment charges required to

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be paid and any unpaid interest expense that was not
forgiven at the time of renewal. For financing for which
the total repayment amount is calculated as a fixed
amount, the prepayment charge is equal to the original
finance charge multiplied by the amount of the renewal
used to pay off existing financing as a percentage of the
total repayment amount, minus any portion of the total
repayment amount forgiven by the provider at the time of
prepayment. If the amount is more than zero, the amount
shall be the answer to the following question: "Does the
renewal financing include any amount that is used to pay
unpaid finance charges or fees, also known as double
dipping? Yes, {enter amount}. If the amount is zero, the
answer would be no."
(2) If the disbursement amount will be reduced to pay
down any unpaid portion of the outstanding balance, the
actual dollar amount by which the disbursement amount will
be reduced.
Section 82. Additional information. Nothing in this Act
shall prevent a provider from providing or disclosing
additional information on a commercial financing being offered
to a recipient, provided however, that the additional
information shall not be disclosed as part of the disclosure
required by this Act. If other metrics of financing cost are
disclosed or used in the application process of a commercial

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financing, these metrics shall not be presented as a "rate" if
they are not the annual interest rate or the annual percentage
rate. The term "interest", when used to describe a percentage
rate, shall only be used to describe annualized percentage
rates, such as the annual interest rate. When a provider
states a rate of finance charge or a financing amount to a
recipient during an application process for commercial
financing, the provider shall also state the rate as an
"annual percentage rate", using that term or the abbreviation
"APR".
Section 83. Violation of disclosure requirements. If the
Secretary finds that a provider who is required to obtain a
license according to this Act has violated any disclosure
requirements outlined in Sections 76 through 82, that shall be
considered a violation of this Act separate from any other
violation that may result from operating without a license as
outlined in Section 20.
Section 84. Suspension; revocation of licenses; civil
penalties and other discipline.
(a) The Secretary may enter an order imposing one or more
of the following penalties:
(1) revocation of license;
(2) suspension of a license subject to reinstatement
upon satisfying all reasonable conditions the Secretary

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may specify;
(3) placement of the licensee or applicant on
probation for a period of time and subject to all
reasonable conditions as the Secretary may specify;
(4) issuance of a reprimand;
(5) imposition of civil monetary penalties as follows:
(A) a civil penalty not to exceed $10,000 for each
separate offense, but civil penalties may not to
exceed $50,000 for all violations arising from the use
of the same transaction documents or materials,
including for financing offers that are not
consummated; and
(B) if a person violates this Act after receiving
written notice of a prior violation, a civil penalty
may be imposed not to exceed $10,000 for each count of
separate offense, but the civil penalties are not to
exceed $100,000 for all violations arising from the
use of the same transaction documents or materials,
including for financing offers that are not
consummated;
(6) restitution, refunds, or any other relief
necessary to protect consumers; and
(7) denial of a license.
(b) Grounds for penalties include:
(1) if a person has violated or aided another to
violate, any provisions of this Act, any rule adopted by

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the Secretary, or any other law, rule, or regulation of
this State, any other state, or the United States;
(2) if a fact or condition exists that, if it had
existed at the time of the original application for the
license, would have warranted the Secretary in refusing
issue the original license;
(3) that a licensee that is not an individual has
acted or failed to act in a way that would be cause for
suspending or revoking a license to an individual;
(4) that a person engaged in unsafe, unsound, unfair,
deceptive, or abusive business practices related to the
activity covered by this Act;
(5) that a person has been adjudicated guilty of a
crime against the law of this State, any other state, or of
the United States involving moral turpitude, abusive,
deceptive, fraudulent, or dishonest dealing;
(6) that a final judgment has been entered against a
person in a civil action upon grounds of abusive conduct,
conversion, fraud, misrepresentation, or deceit;
(7) that a person made a material misstatement in its
application for licensure or any other communication to
the Secretary;
(8) that a person has demonstrated, by course of
conduct, negligence or incompetence in performing any act
for which it is required to hold a license under this Act;
(9) that a person has failed to advise the Secretary

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in writing of any changes to the information submitted on
their most recent application for license within 30 days
after the change;
(10) that a licensee failed to submit to periodic
examination by the Secretary as required by this Act or
failed to maintain, preserve, and keep available for
examination all books, accounts, or other documents
required by the provisions of this Act and rules of the
Secretary;
(11) that a person failed to account or deliver to any
person any property, such as any money, fund, deposit,
check, draft, or other document or thing of value, that
has come into its hands and that is not its property or
that it is not in law or equity entitled to retain, under
the circumstances and at the time which has been agreed
upon or is required by law or, in the absence of a fixed
time, upon demand of the person for the accounting and
delivery;
(12) that a person failed to disburse funds in
accordance with agreements or law;
(13) that a person had a license, or the equivalent,
to practice any profession, occupation, other industry or
activity requiring licensure revoked, suspended,
disciplined, or otherwise acted against, including the
denial of licensure by a licensing authority of this State
or another state, territory, or country for fraud,

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dishonest dealing, misrepresentations, incompetence,
conversion, any act of moral turpitude or any other
grounds that would constitute grounds for discipline under
this Act;
(14) that a person licensed under this Act failed to
timely notify the Department that the person has been
disciplined, including denial of licensure, by a licensing
authority of this State or another state. Timely
notification shall be notification to the Department
within 10 days after entry of discipline;
(15) that a person engaged in activities regulated by
this Act without a current, active license unless
specifically exempted by this Act;
(16) that a person failed to timely pay any fee,
charge, or civil penalty assessed under this Act; and
(17) that a person refused, obstructed, evaded, or
unreasonably delayed an investigation, information
request, or examination authorized under this Act, or
refused, obstructed, evaded, or unreasonably delayed
compliance with the Secretary's subpoena or subpoena duces
tecum.
(c) No license shall be suspended or revoked, except as
provided in this Section, nor shall any licensee be assessed a
civil penalty without notice of his or her right to a hearing.
(d) The Secretary may suspend any license for a period not
exceeding 180 days pending investigation for good cause shown

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that an emergency exists.
(e) No revocation, suspension, or surrender of any license
shall impair or affect the obligation of any preexisting
lawful contract between the licensee and any person. The
Secretary's approval of a licensee's application to surrender
its license shall not affect the licensee's civil or criminal
liability for acts committed prior to surrender. Surrender of
a license does not entitle the licensee to a return of any part
of the license fee.
(f) Every license issued under this Act shall remain in
force and effect until the license expires, is surrendered, is
revoked, or is suspended in accordance with the provisions of
this Act. The Secretary shall have authority to reinstate a
suspended license or to issue a new license to a licensee whose
license has been revoked or surrendered if no fact or
condition then exists which would have warranted the Secretary
in refusing originally to issue that license under this Act.
(g) Whenever the Secretary imposes discipline authorized
by this Section, the Secretary shall execute a written order
to that effect. The Secretary shall serve a copy of the order
upon the person. The Secretary shall serve the person with
notice of the order, including a statement of the reasons for
the order personally or by certified mail. Service by
certified mail shall be deemed completed when the notice is
deposited in the U.S. Mail.
(h) An order assessing a civil penalty, an order revoking

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or suspending a license, or an order denying renewal of a
license shall take effect upon service of the order unless the
licensee serves the Department with a written request for a
hearing in the manner required by the order within 10 days
after the date of service of the order. If a person requests a
hearing, the order shall be stayed from its date of service
until the Department enters a final administrative order.
Hearings shall be conducted as follows:
(1) If the licensee requests a hearing, then the
Secretary shall schedule a hearing within 90 days after
the request for a hearing unless otherwise agreed to by
the parties.
(2) The hearing shall be held at the time and place
designated by the Secretary. The Secretary and any
administrative law judge designated by the Secretary shall
have the power to administer oaths and affirmations,
subpoena witnesses and compel their attendance, take
evidence, and require the production of books, papers,
correspondence, and other records or information that they
consider relevant or material to the inquiry.
(i) The costs of administrative hearings conducted under
this Section shall be paid by the licensee or other person
subject to the hearing.
(j) A licensee and other persons subject to this Act shall
be subject to the disciplinary actions specified in this Act
for any violations conducted by any officer, director,

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shareholder, joint venture, partner, owner, including, but not
limited to, ultimate equitable owner.
Section 85. Investigation of complaints. The Secretary may
investigate any complaints and inquiries made concerning this
Act and any licensees or persons the Secretary believes may
require a license under this Act. Each licensee or person the
Secretary believes may require a license under this Act shall
open the licensee's or person's books, records, documents, and
offices wherever situated to the Secretary as needed to
facilitate the investigations.
Section 90. Additional investigation and examination
authority. In addition to any authority allowed under this
Act, the Secretary may conduct investigations and examinations
as follows:
(1) For purposes of initial licensing, license
renewal, license suspension, license conditioning, license
probation, license revocation or termination, or general
or specific inquiry or investigation to determine
compliance with this Act, the Secretary may access,
receive, and use any books, accounts, records, files,
documents, information, or evidence, including, but not
limited to, the following:
(A) criminal, civil, licensure, and administrative
history information, including nonconviction data as

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specified in the Criminal Code of 2012; (B) personal
history and experience information, including
independent credit reports obtained from a consumer
reporting agency described in Section 603(p) of the
federal Fair Credit Reporting Act; and (C) any other
documents, information, or evidence the Secretary
deems relevant to the inquiry or investigation,
regardless of the location, possession, control, or
custody of the documents, information, or evidence.
(2) For the purposes of investigating violations or
complaints arising under this Act or for the purposes of
examination, the Secretary may review, investigate, or
examine any licensee, individual, or person subject to
this Act as often as necessary in order to carry out the
purposes of this Act. The Secretary may direct, subpoena,
or order the attendance of, and examine under oath all
persons and order any person to produce records, files,
and any other documents the Secretary deems relevant to an
inquiry.
(3) Each person subject to this Act shall make
available to the Secretary upon request the books and
records relating to the operations of the person subject
to this Act. The Secretary shall have access to those
books and records and may interview the owners, officers,
principals, employees, independent contractors, agents,
vendors, and customers of any licensee or person subject

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to this Act.
(4) Each person subject to this Act shall make or
compile reports or prepare other information as directed
by the Secretary to carry out the purposes of this
Section, including, but not limited to:
(A) accounting compilations;
(B) information lists and data concerning
transactions in a format prescribed by the Secretary;
or
(C) other information deemed necessary to carry
out the purposes of this Section.
(5) In making any examination or investigation
authorized by this Act, the Secretary may control access
to any documents and records of the licensee or person
under examination or investigation. The Secretary may take
possession of the documents and records or otherwise take
constructive control of the documents. During the period
of control, no person shall remove or alter any of the
documents or records, except pursuant to a court order or
with the consent of the Secretary. Unless the Secretary
has reasonable grounds to believe the documents or records
of the licensee have been or are at risk of being altered
or destroyed for purposes of concealing a violation of
this Act, the licensee or owner of the documents and
records shall have access to the documents or records as
necessary to conduct its ordinary business affairs.

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(6) In order to carry out the purposes of this
Section, the Secretary may:
(A) retain attorneys, accountants, or other
professionals and specialists as examiners, auditors,
or investigators to conduct or assist in the conduct
of examinations or investigations;
(B) enter into agreements or relationships with
other government officials or regulatory associations
to protect consumers, improve efficiencies, and reduce
regulatory burden by sharing resources, standardized
or uniform methods or procedures, and documents,
records, information, or evidence obtained under this
Section;
(C) use, hire, contract, or employ publicly or
privately available analytical systems, methods, or
software to examine or investigate the licensee,
individual, or person subject to this Act;
(D) accept and rely on examination or
investigation reports made by other government
officials, within or outside this State; or
(E) accept audit reports made by an independent
certified public accountant for the person subject to
this Act and may incorporate the audit report in the
report of the examination, report of investigation, or
other writing of the Secretary.
(7) The authority of this Section shall remain in

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effect, whether the person subject to this Act acts or
claims to act under any licensing or registration law of
this State or claims to act without the authority.
(8) No licensee or person subject to investigation or
examination under this Section may knowingly withhold,
alter, abstract, remove, mutilate, destroy, hide, or
conceal any books, records, computer records, or other
information or take actions designed to delay or
complicate review of records.
Section 95. Confidentiality. To promote more effective
regulation, protect consumers, and reduce regulatory burden
through inter-regulatory sharing of confidential supervisory
information:
(1) The privacy or confidentiality of any information
or material provided to a multistate licensing system,
including all privileges arising under federal or state
court rules and law, shall continue to apply to the
information or material after the information or material
has been disclosed to the multistate licensing system.
Information and material may be shared with a multistate
licensing system, federal and state regulatory officials
with relevant oversight authority, and law enforcement
without the loss of privilege or the loss of
confidentiality protections.
(2) The Secretary is authorized to enter into

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agreements or sharing arrangements with other governmental
agencies, the Conference of State Bank Supervisors, and
other associations representing governmental agencies.
(3) Information or material that is privileged or
confidential under this Act as determined by the Secretary
is not subject to the following:
(A) disclosure under any State law governing the
disclosure to the public of information held by an
officer or an agency of the State; or
(B) subpoena, discovery, or admission into
evidence, in any private civil action or
administrative process except as authorized by the
Secretary.
(4) Any other law relating to the disclosure of
confidential supervisory information that is inconsistent
with this Act shall be superseded by the requirements of
this Section to the extent the other law provides less
confidentiality or a weaker privilege for information that
is privileged or confidential under this Act.
(5) Confidential or privileged information received
from a multistate licensing system, another licensing
body, federal and state regulatory officials, or law
enforcement shall be protected to the same extent as the
Secretary's confidential and privileged information is
protected under this Act. The Secretary may also protect
from disclosure confidential or privileged information

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that would be exempt from disclosure to the extent it is
held directly by the multistate licensing system, another
licensing body, federal and state regulatory officials, or
law enforcement.
Section 100. Appeal and review.
(a) The Secretary may, in accordance with the Illinois
Administrative Procedure Act, adopt rules to provide for
review within the Department of their decisions affecting the
rights of persons under this Act. The review shall provide
for, at a minimum:
(1) appointment of a hearing officer;
(2) appropriate procedural rules, specific deadlines
for filings, and standards of evidence and of proof; and
(3) provisions for apportioning costs among parties to
the appeal.
(b) All final agency determinations of appeals to
decisions of the Secretary may be reviewed in accordance with
and under the provisions of the Administrative Review Law.
Appeals from all final orders and judgments entered by a court
in review of any final administrative decision of the
Secretary or of any final agency review of a decision of the
Secretary may be taken as in other civil cases.
Section 105. Licensure fees.
(a) The fee for initial licensure is $2,500. The fee is

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nonrefundable.
(b) The fee for annual application renewal is $2,500. The
fee is nonrefundable.
(c) The Department shall impose a contingent fee
sufficient to cover its operating expenses in administering
this Act not otherwise covered by all other revenue collected
under this Act. Each licensee shall pay to the Division its pro
rata share, based on number or volume of transactions or
revenue, of the cost for administration of this Act that
exceeds other fees listed in this Section, as estimated by the
Division, for the current year and any deficit actually
incurred in the administration of this Act in prior years.
Section 110. Cease and desist order.
(a) The Secretary may issue a cease and desist order to any
licensee or person doing business without the required
license, when in the opinion of the Secretary the licensee or
other person has violated, is violating, or is about to
violate any provision of this Act or any rule adopted by the
Department under this Act or any requirement imposed in
writing by the Department as a condition of granting any
authorization permitted by this Act. The cease and desist
order authorized by this Section may be issued prior to a
hearing.
(b) The Secretary shall serve notice of the cease and
desist order, either personally or by certified mail. Service

10300SB2234sam002 - 51 - LRB103 28770 RTM 70664 a
by certified mail shall be deemed completed when the notice is
deposited in the U.S. Mail. The Secretary's notice shall
include a statement of the reasons for the action.
(c) Within 10 days after service of the cease and desist
order, the person subject to the cease and desist order may
request a hearing in writing. The Secretary shall schedule a
preliminary hearing within 60 days after the request for a
hearing unless the parties agree to a later date.
(d) If it is determined that the Secretary had the
authority to issue the cease and desist order, the Secretary
may issue the orders as may be reasonably necessary to
correct, eliminate, deter, or remedy the conduct described in
the order and resulting harms.
(e) The powers vested in the Secretary by this Section are
additional to all other powers and remedies vested in the
Secretary by any law. Nothing in this Section shall be
construed as requiring that the Secretary shall employ the
power conferred in this Section instead of or as a condition
precedent to the exercise of any other power or remedy vested
in the Secretary.
Section 115. Injunctions. The Secretary may maintain an
action in the name of the people of the State of Illinois and
may apply for an injunction in the circuit court to enjoin a
person from violating this Act or its implementing rules
through the Attorney General.

10300SB2234sam002 - 52 - LRB103 28770 RTM 70664 a
Section 120. Exemptions. This Act does not apply to, and
does not place any additional requirements or obligations
upon, any of the following:
(1) any person or entity is not a provider;
(2) a commercial financing transaction secured by real
property;
(3) a lease as defined in Section 2-A-103 of the
Uniform Commercial Code, not including finance leases as
defined in paragraph (g) of subsection (1) of Section
2A-103 of the Uniform Commercial Code; or
(4) any person or Provider who makes no more than 5
commercial financing transactions in this State in a
12-month period;
(5) a single, discrete commercial financing
transaction in an amount over $2,500,000; or
(6) a commercial financing transaction in which the
recipient is a vehicle dealer subject to Section 5-101 or
5-102 of the Illinois Vehicle Code, an affiliate of a
dealer, a rental vehicle company as defined in Section 10
of the Renter's Financial Responsibility and Protection
Act, or an affiliate of a company under a commercial
financing agreement or commercial open-end credit plan of
at least $50,000, including any commercial loan made under
a commercial financing transaction.

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Section 125. Complaint disclosure. All commercial
financing shall include a clear and conspicuous notice on how
to file a complaint with the Department.
Section 130. Rules. The Secretary may adopt rules to enact
and enforce this Act, including, but not limited to:
(1) rules defining the terms used in this Act and as
may be necessary and appropriate to interpret and
implement the provisions of this Act;
(2) rules for the enforcement and administration of
this Act;
(3) rules for the protection of consumers and
recipients in this State;
(4) rules defining improper or fraudulent business
practices in connection with commercial financing;
(5) rules charging and collecting fees necessary to
cover the costs of administering this Act, including, but
not limited to registration, investigation, and
examination fees; and
(6) rules to implement Section 155.
Section 135. Violations.
(a) Nothing in this Act shall be construed to restrict the
exercise of powers or the performance of the duties that the
Attorney General is authorized to exercise or perform by law.
(b) Any violation of this Act constitutes an unlawful

10300SB2234sam002 - 54 - LRB103 28770 RTM 70664 a
practice in violation of the Consumer Fraud and Deceptive
Business Practices Act. The Attorney General may enforce a
violation of this Act as an unlawful practice under the
Consumer Fraud and Deceptive Business Practices Act.
Section 140. Beginning of licensure. No person shall be
required to apply for or obtain a license under this Act before
the date established by the Department by rule. The date shall
not be before January 1, 2025.
Section 145. Beginning of disclosure requirements. No
person shall be required to comply with the disclosure
requirements set forth in Section 155 before the date
established by the Department by rule. The date shall not be
before January 1, 2025.
Section 155. Commercial financing database.
(a) A commercial financing database program is established
within the Department. The program shall be administered in
accordance with this Section. None of the duties, obligations,
contingencies, or consequences of or from the program shall be
imposed until 6 months after the Department certifies a
commercial financing database under subsection (b). The
program shall apply to all commercial financings that are
governed by this Act and that are made or taken on or after the
inception of the program.

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(b) The Department shall certify that a commercial
financing database is a commercially reasonable method of
reporting. Upon certifying that a commercial financing
database is a commercially reasonable method of reporting, the
Department shall:
(1) provide reasonable notice to all licensees
identifying the commercially reasonable method of
reporting that is available; and
(2) immediately upon certification, require each
licensee to use a commercially reasonable method of
reporting as a means of complying with subsection (d) of
this Section.
(c) The database created under this program shall be
maintained and administered by the Department. The database
shall be designed to allow providers to submit information to
the database online. The database shall not be designed to
allow providers to retrieve information from the database,
except as otherwise provided in this Act.
(d) Within 30 days after providing funds to a recipient,
the provider shall submit to the commercial financing database
the information delineated in this subsection, if applicable
to the financing. If at the time funds are provided to a
recipient, certain information delineated in this subsection
is not known, the provider shall submit the information to the
commercial financing database within 30 days after the
information becoming ascertainable:

10300SB2234sam002 - 56 - LRB103 28770 RTM 70664 a
(1) FEIN for the recipient;
(2) zip code of the recipient;
(3) origination date of the commercial financing;
(4) description of collateral, if any, securing
commercial financing;
(5) term, if any, of the commercial financing at the
time of origination;
(6) in the case of commercial financing without a
specific term at the time of origination, the actual term
of the commercial financing when known;
(7) financing amount, if applicable;
(8) maximum amount of credit made available to
recipient, if applicable;
(9) the amount of the receivables purchase price paid
to the recipient and, if different from the purchase
price, the amount disbursed to the recipient after any
amount deducted or withheld at disbursement, if
applicable;
(10) the amount scheduled to be drawn by the recipient
at the time the offer is extended, if applicable;
(11) all fees charged to the recipient at or before
the origination date of the commercial financing;
(12) all fees, charges, and interest scheduled to be
charged over the term of the commercial financing, if
applicable;
(13) all fees, charges, and interest scheduled to be

10300SB2234sam002 - 57 - LRB103 28770 RTM 70664 a
charged during any month in which the recipient has a
balance on an open-end commercial financing, if
applicable; and
(14) the APR or Estimated APR, if required by the
Department; and
(15) all other information requested by the
Department.
(e) All personally identifiable information and
information identifying the identity of a recipient obtained
by way of the commercial financing database is strictly
confidential and shall be exempt from disclosure under the
Freedom of Information Act and any other law or regulation
pertaining to the disclosure of information or documents. The
Department may, by rule, identify any additional categories of
information the disclosure of which would be contrary to the
public interest. Any request for production of information
from the commercial financing database, whether by subpoena,
notice, or any other source, shall be referred to the
Department. Any recipient may authorize in writing the release
of database information. The Department may use the
information in the database without the consent of the
recipient or the licensee:
(1) for the purposes of administering and enforcing
the program;
(2) to prepare industry-level reports;
(3) to provide information to the appropriate law

10300SB2234sam002 - 58 - LRB103 28770 RTM 70664 a
enforcement agency or the applicable administrative or
regulatory agency with a legitimate interest in the
information as determined by the Secretary;
(4) as required to comply with applicable law; or
(5) in any other manner that the Secretary deems is
not contrary to the public interest.
(f) A licensee who submits information to a certified
database provider in accordance with this Section shall not be
liable to any person for any subsequent release or disclosure
of that information by the certified database provider, the
Department, or any other person acquiring possession of the
information, regardless of whether the subsequent release or
disclosure was lawful, authorized, or intentional.
(g) In certifying a commercially reasonable method of
reporting, the Department shall ensure that the commercial
financing database:
(1) provides real-time access through an Internet
connection;
(2) is accessible to the Department and to licensees
in order to ensure compliance with this Act and in order to
provide any other information that the Department deems
necessary;
(3) requires licensees to input whatever information
is required by the Department;
(4) maintains a real-time copy of the required
reporting information that is available to the Department

10300SB2234sam002 - 59 - LRB103 28770 RTM 70664 a
at all times and is the property of the Department; and
(5) contains safeguards to ensure that all information
contained in the database regarding consumers is kept
strictly confidential.
(h) The certified commercial financing database may charge
a fee to a licensee not to exceed $1 for each financing entered
into the database. The certified commercial financing database
shall not charge any additional fees or charges.
(i) The certified commercial financing database provider
shall produce an annual report for the Department using the
data submitted by licensees to the database. The Department
may publish this report to the public.
Section 160. Severability. The provisions of this Act are
severable under Section 1.31 of the Statute on Statutes.
Section 900. The Freedom of Information Act is amended by
changing Section 7.5 as follows:
(5 ILCS 140/7.5)
(Text of Section before amendment by P.A. 103-472)
Sec. 7.5. Statutory exemptions. To the extent provided for
by the statutes referenced below, the following shall be
exempt from inspection and copying:
(a) All information determined to be confidential
under Section 4002 of the Technology Advancement and

10300SB2234sam002 - 60 - LRB103 28770 RTM 70664 a
Development Act.
(b) Library circulation and order records identifying
library users with specific materials under the Library
Records Confidentiality Act.
(c) Applications, related documents, and medical
records received by the Experimental Organ Transplantation
Procedures Board and any and all documents or other
records prepared by the Experimental Organ Transplantation
Procedures Board or its staff relating to applications it
has received.
(d) Information and records held by the Department of
Public Health and its authorized representatives relating
to known or suspected cases of sexually transmissible
disease or any information the disclosure of which is
restricted under the Illinois Sexually Transmissible
Disease Control Act.
(e) Information the disclosure of which is exempted
under Section 30 of the Radon Industry Licensing Act.
(f) Firm performance evaluations under Section 55 of
the Architectural, Engineering, and Land Surveying
Qualifications Based Selection Act.
(g) Information the disclosure of which is restricted
and exempted under Section 50 of the Illinois Prepaid
Tuition Act.
(h) Information the disclosure of which is exempted
under the State Officials and Employees Ethics Act, and

10300SB2234sam002 - 61 - LRB103 28770 RTM 70664 a
records of any lawfully created State or local inspector
general's office that would be exempt if created or
obtained by an Executive Inspector General's office under
that Act.
(i) Information contained in a local emergency energy
plan submitted to a municipality in accordance with a
local emergency energy plan ordinance that is adopted
under Section 11-21.5-5 of the Illinois Municipal Code.
(j) Information and data concerning the distribution
of surcharge moneys collected and remitted by carriers
under the Emergency Telephone System Act.
(k) Law enforcement officer identification information
or driver identification information compiled by a law
enforcement agency or the Department of Transportation
under Section 11-212 of the Illinois Vehicle Code.
(l) Records and information provided to a residential
health care facility resident sexual assault and death
review team or the Executive Council under the Abuse
Prevention Review Team Act.
(m) Information provided to the predatory lending
database created pursuant to Article 3 of the Residential
Real Property Disclosure Act, except to the extent
authorized under that Article.
(n) Defense budgets and petitions for certification of
compensation and expenses for court appointed trial
counsel as provided under Sections 10 and 15 of the

10300SB2234sam002 - 62 - LRB103 28770 RTM 70664 a
Capital Crimes Litigation Act (repealed). This subsection
(n) shall apply until the conclusion of the trial of the
case, even if the prosecution chooses not to pursue the
death penalty prior to trial or sentencing.
(o) Information that is prohibited from being
disclosed under Section 4 of the Illinois Health and
Hazardous Substances Registry Act.
(p) Security portions of system safety program plans,
investigation reports, surveys, schedules, lists, data, or
information compiled, collected, or prepared by or for the
Department of Transportation under Sections 2705-300 and
2705-616 of the Department of Transportation Law of the
Civil Administrative Code of Illinois, the Regional
Transportation Authority under Section 2.11 of the
Regional Transportation Authority Act, or the St. Clair
County Transit District under the Bi-State Transit Safety
Act (repealed).
(q) Information prohibited from being disclosed by the
Personnel Record Review Act.
(r) Information prohibited from being disclosed by the
Illinois School Student Records Act.
(s) Information the disclosure of which is restricted
under Section 5-108 of the Public Utilities Act.
(t) (Blank).
(u) Records and information provided to an independent
team of experts under the Developmental Disability and

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Mental Health Safety Act (also known as Brian's Law).
(v) Names and information of people who have applied
for or received Firearm Owner's Identification Cards under
the Firearm Owners Identification Card Act or applied for
or received a concealed carry license under the Firearm
Concealed Carry Act, unless otherwise authorized by the
Firearm Concealed Carry Act; and databases under the
Firearm Concealed Carry Act, records of the Concealed
Carry Licensing Review Board under the Firearm Concealed
Carry Act, and law enforcement agency objections under the
Firearm Concealed Carry Act.
(v-5) Records of the Firearm Owner's Identification
Card Review Board that are exempted from disclosure under
Section 10 of the Firearm Owners Identification Card Act.
(w) Personally identifiable information which is
exempted from disclosure under subsection (g) of Section
19.1 of the Toll Highway Act.
(x) Information which is exempted from disclosure
under Section 5-1014.3 of the Counties Code or Section
8-11-21 of the Illinois Municipal Code.
(y) Confidential information under the Adult
Protective Services Act and its predecessor enabling
statute, the Elder Abuse and Neglect Act, including
information about the identity and administrative finding
against any caregiver of a verified and substantiated
decision of abuse, neglect, or financial exploitation of

10300SB2234sam002 - 64 - LRB103 28770 RTM 70664 a
an eligible adult maintained in the Registry established
under Section 7.5 of the Adult Protective Services Act.
(z) Records and information provided to a fatality
review team or the Illinois Fatality Review Team Advisory
Council under Section 15 of the Adult Protective Services
Act.
(aa) Information which is exempted from disclosure
under Section 2.37 of the Wildlife Code.
(bb) Information which is or was prohibited from
disclosure by the Juvenile Court Act of 1987.
(cc) Recordings made under the Law Enforcement
Officer-Worn Body Camera Act, except to the extent
authorized under that Act.
(dd) Information that is prohibited from being
disclosed under Section 45 of the Condominium and Common
Interest Community Ombudsperson Act.
(ee) Information that is exempted from disclosure
under Section 30.1 of the Pharmacy Practice Act.
(ff) Information that is exempted from disclosure
under the Revised Uniform Unclaimed Property Act.
(gg) Information that is prohibited from being
disclosed under Section 7-603.5 of the Illinois Vehicle
Code.
(hh) Records that are exempt from disclosure under
Section 1A-16.7 of the Election Code.
(ii) Information which is exempted from disclosure

10300SB2234sam002 - 65 - LRB103 28770 RTM 70664 a
under Section 2505-800 of the Department of Revenue Law of
the Civil Administrative Code of Illinois.
(jj) Information and reports that are required to be
submitted to the Department of Labor by registering day
and temporary labor service agencies but are exempt from
disclosure under subsection (a-1) of Section 45 of the Day
and Temporary Labor Services Act.
(kk) Information prohibited from disclosure under the
Seizure and Forfeiture Reporting Act.
(ll) Information the disclosure of which is restricted
and exempted under Section 5-30.8 of the Illinois Public
Aid Code.
(mm) Records that are exempt from disclosure under
Section 4.2 of the Crime Victims Compensation Act.
(nn) Information that is exempt from disclosure under
Section 70 of the Higher Education Student Assistance Act.
(oo) Communications, notes, records, and reports
arising out of a peer support counseling session
prohibited from disclosure under the First Responders
Suicide Prevention Act.
(pp) Names and all identifying information relating to
an employee of an emergency services provider or law
enforcement agency under the First Responders Suicide
Prevention Act.
(qq) Information and records held by the Department of
Public Health and its authorized representatives collected

10300SB2234sam002 - 66 - LRB103 28770 RTM 70664 a
under the Reproductive Health Act.
(rr) Information that is exempt from disclosure under
the Cannabis Regulation and Tax Act.
(ss) Data reported by an employer to the Department of
Human Rights pursuant to Section 2-108 of the Illinois
Human Rights Act.
(tt) Recordings made under the Children's Advocacy
Center Act, except to the extent authorized under that
Act.
(uu) Information that is exempt from disclosure under
Section 50 of the Sexual Assault Evidence Submission Act.
(vv) Information that is exempt from disclosure under
subsections (f) and (j) of Section 5-36 of the Illinois
Public Aid Code.
(ww) Information that is exempt from disclosure under
Section 16.8 of the State Treasurer Act.
(xx) Information that is exempt from disclosure or
information that shall not be made public under the
Illinois Insurance Code.
(yy) Information prohibited from being disclosed under
the Illinois Educational Labor Relations Act.
(zz) Information prohibited from being disclosed under
the Illinois Public Labor Relations Act.
(aaa) Information prohibited from being disclosed
under Section 1-167 of the Illinois Pension Code.
(bbb) Information that is prohibited from disclosure

10300SB2234sam002 - 67 - LRB103 28770 RTM 70664 a
by the Illinois Police Training Act and the Illinois State
Police Act.
(ccc) Records exempt from disclosure under Section
2605-304 of the Illinois State Police Law of the Civil
Administrative Code of Illinois.
(ddd) Information prohibited from being disclosed
under Section 35 of the Address Confidentiality for
Victims of Domestic Violence, Sexual Assault, Human
Trafficking, or Stalking Act.
(eee) Information prohibited from being disclosed
under subsection (b) of Section 75 of the Domestic
Violence Fatality Review Act.
(fff) Images from cameras under the Expressway Camera
Act. This subsection (fff) is inoperative on and after
July 1, 2025.
(ggg) Information prohibited from disclosure under
paragraph (3) of subsection (a) of Section 14 of the Nurse
Agency Licensing Act.
(hhh) Information submitted to the Illinois State
Police in an affidavit or application for an assault
weapon endorsement, assault weapon attachment endorsement,
.50 caliber rifle endorsement, or .50 caliber cartridge
endorsement under the Firearm Owners Identification Card
Act.
(iii) Data exempt from disclosure under Section 50 of
the School Safety Drill Act.

10300SB2234sam002 - 68 - LRB103 28770 RTM 70664 a
(jjj) (hhh) Information exempt from disclosure under
Section 30 of the Insurance Data Security Law.
(kkk) (iii) Confidential business information
prohibited from disclosure under Section 45 of the Paint
Stewardship Act.
(lll) (Reserved).
(mmm) (iii) Information prohibited from being
disclosed under subsection (e) of Section 1-129 of the
Illinois Power Agency Act.
(nnn) Information exempt from disclosure under Section
155 of the Consumer Protections for Small Business Act.
(Source: P.A. 102-36, eff. 6-25-21; 102-237, eff. 1-1-22;
102-292, eff. 1-1-22; 102-520, eff. 8-20-21; 102-559, eff.
8-20-21; 102-813, eff. 5-13-22; 102-946, eff. 7-1-22;
102-1042, eff. 6-3-22; 102-1116, eff. 1-10-23; 103-8, eff.
6-7-23; 103-34, eff. 6-9-23; 103-142, eff. 1-1-24; 103-372,
eff. 1-1-24; 103-508, eff. 8-4-23; 103-580, eff. 12-8-23;
revised 1-2-24.)
(Text of Section after amendment by P.A. 103-472)
Sec. 7.5. Statutory exemptions. To the extent provided for
by the statutes referenced below, the following shall be
exempt from inspection and copying:
(a) All information determined to be confidential
under Section 4002 of the Technology Advancement and
Development Act.

10300SB2234sam002 - 69 - LRB103 28770 RTM 70664 a
(b) Library circulation and order records identifying
library users with specific materials under the Library
Records Confidentiality Act.
(c) Applications, related documents, and medical
records received by the Experimental Organ Transplantation
Procedures Board and any and all documents or other
records prepared by the Experimental Organ Transplantation
Procedures Board or its staff relating to applications it
has received.
(d) Information and records held by the Department of
Public Health and its authorized representatives relating
to known or suspected cases of sexually transmissible
disease or any information the disclosure of which is
restricted under the Illinois Sexually Transmissible
Disease Control Act.
(e) Information the disclosure of which is exempted
under Section 30 of the Radon Industry Licensing Act.
(f) Firm performance evaluations under Section 55 of
the Architectural, Engineering, and Land Surveying
Qualifications Based Selection Act.
(g) Information the disclosure of which is restricted
and exempted under Section 50 of the Illinois Prepaid
Tuition Act.
(h) Information the disclosure of which is exempted
under the State Officials and Employees Ethics Act, and
records of any lawfully created State or local inspector

10300SB2234sam002 - 70 - LRB103 28770 RTM 70664 a
general's office that would be exempt if created or
obtained by an Executive Inspector General's office under
that Act.
(i) Information contained in a local emergency energy
plan submitted to a municipality in accordance with a
local emergency energy plan ordinance that is adopted
under Section 11-21.5-5 of the Illinois Municipal Code.
(j) Information and data concerning the distribution
of surcharge moneys collected and remitted by carriers
under the Emergency Telephone System Act.
(k) Law enforcement officer identification information
or driver identification information compiled by a law
enforcement agency or the Department of Transportation
under Section 11-212 of the Illinois Vehicle Code.
(l) Records and information provided to a residential
health care facility resident sexual assault and death
review team or the Executive Council under the Abuse
Prevention Review Team Act.
(m) Information provided to the predatory lending
database created pursuant to Article 3 of the Residential
Real Property Disclosure Act, except to the extent
authorized under that Article.
(n) Defense budgets and petitions for certification of
compensation and expenses for court appointed trial
counsel as provided under Sections 10 and 15 of the
Capital Crimes Litigation Act (repealed). This subsection

10300SB2234sam002 - 71 - LRB103 28770 RTM 70664 a
(n) shall apply until the conclusion of the trial of the
case, even if the prosecution chooses not to pursue the
death penalty prior to trial or sentencing.
(o) Information that is prohibited from being
disclosed under Section 4 of the Illinois Health and
Hazardous Substances Registry Act.
(p) Security portions of system safety program plans,
investigation reports, surveys, schedules, lists, data, or
information compiled, collected, or prepared by or for the
Department of Transportation under Sections 2705-300 and
2705-616 of the Department of Transportation Law of the
Civil Administrative Code of Illinois, the Regional
Transportation Authority under Section 2.11 of the
Regional Transportation Authority Act, or the St. Clair
County Transit District under the Bi-State Transit Safety
Act (repealed).
(q) Information prohibited from being disclosed by the
Personnel Record Review Act.
(r) Information prohibited from being disclosed by the
Illinois School Student Records Act.
(s) Information the disclosure of which is restricted
under Section 5-108 of the Public Utilities Act.
(t) (Blank).
(u) Records and information provided to an independent
team of experts under the Developmental Disability and
Mental Health Safety Act (also known as Brian's Law).

10300SB2234sam002 - 72 - LRB103 28770 RTM 70664 a
(v) Names and information of people who have applied
for or received Firearm Owner's Identification Cards under
the Firearm Owners Identification Card Act or applied for
or received a concealed carry license under the Firearm
Concealed Carry Act, unless otherwise authorized by the
Firearm Concealed Carry Act; and databases under the
Firearm Concealed Carry Act, records of the Concealed
Carry Licensing Review Board under the Firearm Concealed
Carry Act, and law enforcement agency objections under the
Firearm Concealed Carry Act.
(v-5) Records of the Firearm Owner's Identification
Card Review Board that are exempted from disclosure under
Section 10 of the Firearm Owners Identification Card Act.
(w) Personally identifiable information which is
exempted from disclosure under subsection (g) of Section
19.1 of the Toll Highway Act.
(x) Information which is exempted from disclosure
under Section 5-1014.3 of the Counties Code or Section
8-11-21 of the Illinois Municipal Code.
(y) Confidential information under the Adult
Protective Services Act and its predecessor enabling
statute, the Elder Abuse and Neglect Act, including
information about the identity and administrative finding
against any caregiver of a verified and substantiated
decision of abuse, neglect, or financial exploitation of
an eligible adult maintained in the Registry established

10300SB2234sam002 - 73 - LRB103 28770 RTM 70664 a
under Section 7.5 of the Adult Protective Services Act.
(z) Records and information provided to a fatality
review team or the Illinois Fatality Review Team Advisory
Council under Section 15 of the Adult Protective Services
Act.
(aa) Information which is exempted from disclosure
under Section 2.37 of the Wildlife Code.
(bb) Information which is or was prohibited from
disclosure by the Juvenile Court Act of 1987.
(cc) Recordings made under the Law Enforcement
Officer-Worn Body Camera Act, except to the extent
authorized under that Act.
(dd) Information that is prohibited from being
disclosed under Section 45 of the Condominium and Common
Interest Community Ombudsperson Act.
(ee) Information that is exempted from disclosure
under Section 30.1 of the Pharmacy Practice Act.
(ff) Information that is exempted from disclosure
under the Revised Uniform Unclaimed Property Act.
(gg) Information that is prohibited from being
disclosed under Section 7-603.5 of the Illinois Vehicle
Code.
(hh) Records that are exempt from disclosure under
Section 1A-16.7 of the Election Code.
(ii) Information which is exempted from disclosure
under Section 2505-800 of the Department of Revenue Law of

10300SB2234sam002 - 74 - LRB103 28770 RTM 70664 a
the Civil Administrative Code of Illinois.
(jj) Information and reports that are required to be
submitted to the Department of Labor by registering day
and temporary labor service agencies but are exempt from
disclosure under subsection (a-1) of Section 45 of the Day
and Temporary Labor Services Act.
(kk) Information prohibited from disclosure under the
Seizure and Forfeiture Reporting Act.
(ll) Information the disclosure of which is restricted
and exempted under Section 5-30.8 of the Illinois Public
Aid Code.
(mm) Records that are exempt from disclosure under
Section 4.2 of the Crime Victims Compensation Act.
(nn) Information that is exempt from disclosure under
Section 70 of the Higher Education Student Assistance Act.
(oo) Communications, notes, records, and reports
arising out of a peer support counseling session
prohibited from disclosure under the First Responders
Suicide Prevention Act.
(pp) Names and all identifying information relating to
an employee of an emergency services provider or law
enforcement agency under the First Responders Suicide
Prevention Act.
(qq) Information and records held by the Department of
Public Health and its authorized representatives collected
under the Reproductive Health Act.

10300SB2234sam002 - 75 - LRB103 28770 RTM 70664 a
(rr) Information that is exempt from disclosure under
the Cannabis Regulation and Tax Act.
(ss) Data reported by an employer to the Department of
Human Rights pursuant to Section 2-108 of the Illinois
Human Rights Act.
(tt) Recordings made under the Children's Advocacy
Center Act, except to the extent authorized under that
Act.
(uu) Information that is exempt from disclosure under
Section 50 of the Sexual Assault Evidence Submission Act.
(vv) Information that is exempt from disclosure under
subsections (f) and (j) of Section 5-36 of the Illinois
Public Aid Code.
(ww) Information that is exempt from disclosure under
Section 16.8 of the State Treasurer Act.
(xx) Information that is exempt from disclosure or
information that shall not be made public under the
Illinois Insurance Code.
(yy) Information prohibited from being disclosed under
the Illinois Educational Labor Relations Act.
(zz) Information prohibited from being disclosed under
the Illinois Public Labor Relations Act.
(aaa) Information prohibited from being disclosed
under Section 1-167 of the Illinois Pension Code.
(bbb) Information that is prohibited from disclosure
by the Illinois Police Training Act and the Illinois State

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Police Act.
(ccc) Records exempt from disclosure under Section
2605-304 of the Illinois State Police Law of the Civil
Administrative Code of Illinois.
(ddd) Information prohibited from being disclosed
under Section 35 of the Address Confidentiality for
Victims of Domestic Violence, Sexual Assault, Human
Trafficking, or Stalking Act.
(eee) Information prohibited from being disclosed
under subsection (b) of Section 75 of the Domestic
Violence Fatality Review Act.
(fff) Images from cameras under the Expressway Camera
Act. This subsection (fff) is inoperative on and after
July 1, 2025.
(ggg) Information prohibited from disclosure under
paragraph (3) of subsection (a) of Section 14 of the Nurse
Agency Licensing Act.
(hhh) Information submitted to the Illinois State
Police in an affidavit or application for an assault
weapon endorsement, assault weapon attachment endorsement,
.50 caliber rifle endorsement, or .50 caliber cartridge
endorsement under the Firearm Owners Identification Card
Act.
(iii) Data exempt from disclosure under Section 50 of
the School Safety Drill Act.
(jjj) (hhh) Information exempt from disclosure under

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Section 30 of the Insurance Data Security Law.
(kkk) (iii) Confidential business information
prohibited from disclosure under Section 45 of the Paint
Stewardship Act.
(lll) (iii) Data exempt from disclosure under Section
2-3.196 of the School Code.
(mmm) (iii) Information prohibited from being
disclosed under subsection (e) of Section 1-129 of the
Illinois Power Agency Act.
(nnn) Information exempt from disclosure under Section
155 of the Consumer Protections for Small Business Act.
(Source: P.A. 102-36, eff. 6-25-21; 102-237, eff. 1-1-22;
102-292, eff. 1-1-22; 102-520, eff. 8-20-21; 102-559, eff.
8-20-21; 102-813, eff. 5-13-22; 102-946, eff. 7-1-22;
102-1042, eff. 6-3-22; 102-1116, eff. 1-10-23; 103-8, eff.
6-7-23; 103-34, eff. 6-9-23; 103-142, eff. 1-1-24; 103-372,
eff. 1-1-24; 103-472, eff. 8-1-24; 103-508, eff. 8-4-23;
103-580, eff. 12-8-23; revised 1-2-24.)
Section 905. The Consumer Fraud and Deceptive Business
Practices Act is amended by adding Section 2EEEE as follows:
(815 ILCS 505/2EEEE new)
Sec. 2EEEE. Violations of the Consumer Protections for
Small Business Act. Any person who violates the Consumer
Protections for Small Business Act commits an unlawful

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practice within the meaning of this Act.
Section 995. No acceleration or delay. Where this Act
makes changes in a statute that is represented in this Act by
text that is not yet or no longer in effect (for example, a
Section represented by multiple versions), the use of that
text does not accelerate or delay the taking effect of (i) the
changes made by this Act or (ii) provisions derived from any
other Public Act.