Bill Title: Amends the Interest Act. Provides that, whenever the rate of interest exceeds an annual percentage rate of 8% on any written contract, agreement or bond for deed providing for the installment purchase of residential real estate made primarily for personal, family, or household purposes (rather than for the installment purchase of residential real estate), or on any loan secured by a mortgage on residential real estate made primarily for personal, family, or household purposes (rather than on any loan secured by a mortgage on residential real estate), it shall be unlawful to provide for a prepayment penalty or other charge for prepayment.

Sponsorship: Partisan Bill (Democrat 3)

Status: (Introduced - Dead) 2026-03-27 - Rule 19(a) / Re-referred to Rules Committee [HB4302 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2026-01-06	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB4302

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB4302 currently on file.