Bill Text: IL HB1991 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the Criminal Code of 1961. Makes a technical change in a Section concerning usury.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2013-01-08 - Session Sine Die [HB1991 Detail]

Download: Illinois-2011-HB1991-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HB1991 Introduced , by Rep. John E. Bradley SYNOPSIS AS INTRODUCED:
720 ILCS 5/39-1 from Ch. 38, par. 39-1
Amends the Criminal Code of 1961. Makes a technical change in a Section concerning usury.
LRB097 09698 RLC 49835 b
A BILL FOR
HB1991 LRB097 09698 RLC 49835 b
AN ACT concerning criminal law.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Criminal Code of 1961 is amended by changing
Section 39-1 as follows:
(720 ILCS 5/39-1) (from Ch. 38, par. 39-1)
Sec. 39-1. Criminal Usury.
(a) Any person commits criminal usury when, in exchange for
either a loan of money or other property or forbearance from
the the collection of such a loan, he knowingly contracts for
or receives from an individual, directly or indirectly,
interest, discount or other consideration at a rate greater
than 20% per annum either before or after the maturity of the
loan.
(b) When a person has in his personal or constructive
possession records, memoranda, or other documentary record of
usurious loans it shall be prima facie evidence that he has
violated Subsection 39-1(a) hereof.
(Source: P.A. 76-1879.)