IL HB3749 | 2013-2014 | 98th General Assembly
Status
Completed Legislative Action
Sponsorship: Partisan Bill (Democrat 3)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Engrossed) [HTML]
Sponsorship: Partisan Bill (Democrat 3)
Status: Failed on December 3 2014 - 100% progression
Action: 2014-12-03 - Session Sine Die
Text: Latest bill text (Engrossed) [HTML]
Summary
Creates the Higher Education Employee Loan Act. Provides that if a not-for-profit higher education institution located in this State or its foundation makes a loan to an employee or contractor of either the institution or the foundation, then the annual rate of interest must be equal to the prevailing loan interest rate in effect at the time the institution or foundation approves the loan, except that the institution or its foundation may not make a loan to an employee or contractor of either the institution or the foundation for the purpose of purchasing a non-primary residence. Prohibits such an institution or foundation from forgiving a loan made to an employee or contractor of either the institution or the foundation. Requires the Board of Higher Education to adopt enforcement rules, which may include the imposition of a civil penalty. Effective immediately.
Title
HIGHER ED-EMPLOYEE LOANS
Sponsors
Roll Calls
2014-02-20 - House - Third Reading in House (Y: 83 N: 21 NV: 9 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2014-12-03 | House | Session Sine Die |
| 2014-02-25 | Senate | Referred to Assignments |
| 2014-02-25 | Senate | First Reading |
| 2014-02-25 | Senate | Chief Senate Sponsor Sen. Pat McGuire |
| 2014-02-25 | Senate | Placed on Calendar Order of First Reading |
| 2014-02-25 | Senate | Arrive in Senate |
| 2014-02-20 | House | Added Chief Co-Sponsor Rep. Esther Golar |
| 2014-02-20 | House | Third Reading - Short Debate - Passed 083-021-007 |
| 2014-02-19 | House | Placed on Calendar Order of 3rd Reading - Short Debate |
| 2014-02-19 | House | Second Reading - Short Debate |
| 2014-02-05 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2014-02-04 | House | Do Pass / Short Debate Higher Education Committee; 013-001-000 |
| 2014-01-28 | House | Assigned to Higher Education Committee |
| 2013-11-07 | House | Referred to Rules Committee |
| 2013-11-07 | House | First Reading |
| 2013-11-07 | House | Filed with the Clerk by Rep. Jack D. Franks |
