Bill Title: Amends the Residential Real Property Disclosure Act. Provides that any condition, stipulation, or provision in any mortgage, promissory note, or contract directly affecting an interest in Illinois real estate shall state that Illinois law shall apply. Provides that any condition, stipulation, or provision purporting to apply the law of another state or country is void. Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that it is an unlawful practice for any person to insert a provision in any mortgage, promissory note, or other contract directly affecting a consumer's ownership of Illinois real estate which states that the law of a state or country other than Illinois shall apply, and that any such provision purporting to apply the law of another state or country in such consumer transaction is void.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2023-02-10 - Referred to Assignments [SB2182 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Chapin Rose [R]	Primary	Sponsored Bills	SD-051	FollowTheMoney	Ballotpedia	VoteSmart

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