IL SB3195 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
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.
Title
FINANCIAL INSTITUTIONS-FEES
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2021-01-13 | Senate | Session Sine Die |
| 2020-02-11 | Senate | Referred to Assignments |
| 2020-02-11 | Senate | First Reading |
| 2020-02-11 | Senate | Filed with Secretary by Sen. Jacqueline Y. Collins |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 205 | 405 | 13.1 | Amended Code | Citation Text |
| 205 | 405 | 14 | Amended Code | Citation Text |
| 205 | 405 | 16 | Amended Code | Citation Text |
| 205 | 405 | 4 | Amended Code | Citation Text |
| 205 | 660 | 5 | Amended Code | Citation Text |
| 205 | 660 | 6 | Amended Code | Citation Text |
| 205 | 665 | 4 | Amended Code | Citation Text |
| 205 | 665 | 6 | Amended Code | Citation Text |
| 205 | 670 | 11 | Amended Code | Citation Text |
| 205 | 670 | 12.5 | Amended Code | Citation Text |
| 205 | 670 | 2 | Amended Code | Citation Text |
| 205 | 670 | 4 | Amended Code | Citation Text |
| 205 | 670 | 8 | Amended Code | Citation Text |
| 815 | 122 | 2-55 | Amended Code | Citation Text |
| 815 | 122 | 3-5 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3195&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
| Text | https://www.ilga.gov/legislation/101/SB/10100SB3195.htm |
