IL HB0104 | 2021-2022 | 102nd General Assembly

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 13 2021 - 25% progression
Action: 2021-01-14 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Amends the Currency Exchange Act, the Sales Finance Agency Act, the Debt Management Service Act, the Consumer Installment Loan Act, and the Payday Loan Reform Act. Changes application fees, license fees, initial license fees, and fees to operate under those Acts. Changes the fine for late annual consumer installment loan reports to $500 (instead of $25) for each day beyond March 1 such report is filed. Establishes an initial license fee to operate as a payday lender in the amount of $1,250. Changes the fine for late annual payday lender reports to $500 (instead of $25) for each day beyond March 1 such report is filed. In the Sales Finance Agency Act, the Consumer Installment Loan Act, and the Payday Loan Reform Act, makes changes to the expiration date of licenses under those Acts and adds a fee to reinstate an expired license. Effective immediately.

Tracking Information

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Title

FINANCIAL INSTITUTIONS-FEES

Sponsors


History

DateChamberAction
2021-01-14HouseReferred to Rules Committee
2021-01-14HouseFirst Reading
2021-01-13HouseFiled with the Clerk by Rep. Jonathan Carroll

Code Citations

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Illinois State Sources


Bill Comments

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