Bill Title: Creates the Small Business Financing Transparency Act. Sets forth provisions concerning registration requirements for persons providing commercial financing; additional registration information; registration expiration; functions, power, and duties; subpoena power of the Secretary of Financial and Professional Regulation; disclosure requirements; commercial financing disclosure forms approved for use in other states; violation of disclosure requirements; notification; suspension of registrations, civil penalties, and other discipline; investigation of complaints; confidentiality; appeal and review; registration fees; cease and desist orders; injunctions; exemptions; complaint disclosure; rules; violations; limitations on liability; beginning of registration; beginning of disclosure requirements; severability; and a commercial financing database. Amends the Freedom of Information Act and the Consumer Fraud and Deceptive Business Practices Act to make conforming changes. Effective immediately.

Spectrum: Partisan Bill (Democrat 29-0)

Status: (Engrossed) 2024-05-31 - Rule 19(a) / Re-referred to Rules Committee [SB2234 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Engrossed	2024-05-02	HTML/Text	Link	View
Introduced	2023-02-10	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
Senate Amendment 005	2024-04-16	Proposed	HTML/Text	Link	View
Senate Amendment 004	2024-04-09	Proposed	HTML/Text	Link	View
Senate Amendment 003	2024-04-08	Proposed	HTML/Text	Link	View
Senate Amendment 002	2024-03-08	Proposed	HTML/Text	Link	View
Senate Amendment 001	2023-03-01	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB2234 currently on file.

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