IL HB2468 | 2019-2020 | 101st General Assembly
Status
Spectrum: Moderate Partisan Bill (Democrat 37-7)
Status: Introduced on February 13 2019 - 25% progression, died in committee
Action: 2020-07-24 - Added Co-Sponsor Rep. Andrew S. Chesney
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 13 2019 - 25% progression, died in committee
Action: 2020-07-24 - Added Co-Sponsor Rep. Andrew S. Chesney
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Consumer Installment Loan Act. Defines "title-secured loan". Provides that for title-secured loans entered into or renewed on or after the effective date of the Act: (i) a licensee shall not contract for or receive a charge exceeding 36% annual percentage rate on the unpaid balance of the amount financed for a title-secured loan; (ii) the loan contract shall provide for repayment of the principal and charges within specified maximum loan terms; (iii) upon or after default, a licensee shall not charge a borrower any finance charges, interest, fees, or charges of any kind; and (iv) the loan may be refinanced if the original principal of the loan has been reduced by at least 60%. Provides that nothing in these provisions abrogates a borrower's right to collect any surplus arising from the sale of a motor vehicle under the Uniform Commercial Code.
Title
TITLE-SECURED LOANS
Sponsors
History
Date | Chamber | Action |
---|---|---|
2020-07-24 | House | Added Co-Sponsor Rep. Andrew S. Chesney |
2019-04-16 | House | Added Co-Sponsor Rep. Fred Crespo |
2019-04-12 | House | House Floor Amendment No. 3 Rule 19(c) / Re-referred to Rules Committee |
2019-04-12 | House | Rule 19(a) / Re-referred to Rules Committee |
2019-04-11 | House | Added Co-Sponsor Rep. Ryan Spain |
2019-04-11 | House | House Floor Amendment No. 3 Recommends Be Adopted Executive Committee; 013-000-000 |
2019-04-10 | House | Held on Calendar Order of Second Reading - Short Debate |
2019-04-10 | House | Second Reading - Short Debate |
2019-04-10 | House | Added Co-Sponsor Rep. Debbie Meyers-Martin |
2019-04-10 | House | House Floor Amendment No. 3 Rules Refers to Executive Committee |
2019-04-10 | House | Added Co-Sponsor Rep. Katie Stuart |
2019-04-10 | House | Added Co-Sponsor Rep. LaToya Greenwood |
2019-04-10 | House | Added Co-Sponsor Rep. Sue Scherer |
2019-04-10 | House | Added Co-Sponsor Rep. Anne Stava-Murray |
2019-04-10 | House | Added Co-Sponsor Rep. Rita Mayfield |
2019-04-10 | House | Added Co-Sponsor Rep. André Thapedi |
2019-04-10 | House | Added Co-Sponsor Rep. Diane Pappas |
2019-04-09 | House | House Floor Amendment No. 3 Referred to Rules Committee |
2019-04-09 | House | House Floor Amendment No. 3 Filed with Clerk by Rep. Emanuel Chris Welch |
2019-04-04 | House | Added Co-Sponsor Rep. Terra Costa Howard |
2019-04-04 | House | Added Chief Co-Sponsor Rep. William Davis |
2019-04-03 | House | Added Co-Sponsor Rep. Martin J. Moylan |
2019-04-03 | House | Added Co-Sponsor Rep. Sonya M. Harper |
2019-04-03 | House | Added Co-Sponsor Rep. Michael Halpin |
2019-04-03 | House | Added Co-Sponsor Rep. Will Guzzardi |
2019-04-03 | House | Added Co-Sponsor Rep. Kelly M. Cassidy |
2019-04-03 | House | Added Co-Sponsor Rep. Jennifer Gong-Gershowitz |
2019-04-02 | House | Added Co-Sponsor Rep. Robyn Gabel |
2019-04-02 | House | House Floor Amendment No. 2 Referred to Rules Committee |
2019-04-02 | House | House Floor Amendment No. 2 Filed with Clerk by Rep. Emanuel Chris Welch |
2019-04-02 | House | Added Co-Sponsor Rep. Mary Edly-Allen |
2019-03-28 | House | Added Co-Sponsor Rep. Kambium Buckner |
2019-03-28 | House | Added Co-Sponsor Rep. Nicholas K. Smith |
2019-03-28 | House | Added Co-Sponsor Rep. La Shawn K. Ford |
2019-03-28 | House | Added Co-Sponsor Rep. Delia C. Ramirez |
2019-03-28 | House | Added Co-Sponsor Rep. Lamont J. Robinson, Jr. |
2019-03-28 | House | Added Co-Sponsor Rep. Maurice A. West, II |
2019-03-28 | House | Added Co-Sponsor Rep. Jonathan Carroll |
2019-03-27 | House | Removed Co-Sponsor Rep. Marcus C. Evans, Jr. |
2019-03-26 | House | Added Co-Sponsor Rep. Carol Ammons |
2019-03-21 | House | Added Co-Sponsor Rep. Anna Moeller |
2019-03-21 | House | Added Co-Sponsor Rep. Bob Morgan |
2019-03-21 | House | Added Co-Sponsor Rep. Gregory Harris |
2019-03-14 | House | Removed Co-Sponsor Rep. Amy Grant |
2019-03-14 | House | Added Co-Sponsor Rep. Amy Grant |
2019-03-14 | House | Added Co-Sponsor Rep. Kathleen Willis |
2019-03-13 | House | Placed on Calendar 2nd Reading - Short Debate |
2019-03-13 | House | House Committee Amendment No. 1 Tabled Pursuant to Rule 40 |
2019-03-13 | House | Do Pass / Short Debate Executive Committee; 011-000-000 |
2019-03-12 | House | Added Co-Sponsor Rep. Arthur Turner |
2019-03-12 | House | House Committee Amendment No. 1 Referred to Rules Committee |
2019-03-12 | House | House Committee Amendment No. 1 Filed with Clerk by Rep. Emanuel Chris Welch |
2019-03-07 | House | Added Co-Sponsor Rep. Luis Arroyo |
2019-03-07 | House | Added Co-Sponsor Rep. Natalie A. Manley |
2019-03-07 | House | Added Co-Sponsor Rep. Grant Wehrli |
2019-03-07 | House | Added Co-Sponsor Rep. Thomas M. Bennett |
2019-03-01 | House | Added Co-Sponsor Rep. Jehan Gordon-Booth |
2019-02-28 | House | Added Co-Sponsor Rep. Joe Sosnowski |
2019-02-28 | House | Added Co-Sponsor Rep. Marcus C. Evans, Jr. |
2019-02-26 | House | Assigned to Executive Committee |
2019-02-21 | House | Added Chief Co-Sponsor Rep. David A. Welter |
2019-02-20 | House | Added Chief Co-Sponsor Rep. Theresa Mah |
2019-02-15 | House | Added Chief Co-Sponsor Rep. C.D. Davidsmeyer |
2019-02-13 | House | Referred to Rules Committee |
2019-02-13 | House | First Reading |
2019-02-13 | House | Filed with the Clerk by Rep. Emanuel Chris Welch |
Code Citations
Chapter | Article | Section | Citation Type | Statute Text |
---|---|---|---|---|
205 | 670 | 1 | Amended Code | Citation Text |
205 | 670 | 15 | Amended Code | Citation Text |
205 | 670 | 15f | New Code | See Bill Text |