Illinois General Assembly - Bill Status for HB2795

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Bill Status of HB2795 98th General Assembly

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Short Description: PAYDAY LOAN SURCHARGE

House Sponsors
Rep. Elgie R. Sims, Jr.

Last Action

Date	Chamber	Action
12/3/2014	House	Session Sine Die

Statutes Amended In Order of Appearance

30 ILCS 105/5.826 new

30 ILCS 105/6z-98 new

815 ILCS 122/4-17 new

Synopsis As Introduced
Amends the Payday Loan Reform Act. Imposes a surcharge upon each lender in an amount equal to $1 for each payday loan made by that lender. Provides that the moneys collected from the surcharge shall be deposited into the Small Loan Community Reinvestment Fund, less 2% of those proceeds, which shall be paid into the Tax Compliance and Administration Fund. Amends the State Finance Act to create the Small Loan Community Reinvestment Fund. Provides that moneys in the Fund shall be used by the Department of Commerce and Economic Opportunity to make grants to not-for-profit organizations dedicated to educational tutoring and development, financial literacy, early childhood development, youth mentoring, and senior services.

Actions

Date	Chamber	Action
2/22/2013	House	Filed with the Clerk by Rep. Elgie R. Sims, Jr.
2/26/2013	House	First Reading
2/26/2013	House	Referred to Rules Committee
3/4/2013	House	Assigned to Consumer Protection Committee
3/11/2013	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Elgie R. Sims, Jr.
3/11/2013	House	House Committee Amendment No. 1 Referred to Rules Committee
3/13/2013	House	House Committee Amendment No. 1 Rules Refers to Consumer Protection Committee
3/22/2013	House	Rule 19(a) / Re-referred to Rules Committee
3/22/2013	House	House Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee
12/3/2014	House	Session Sine Die

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