Illinois General Assembly - Bill Status for HB4873
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 Bill Status of HB4873  100th General Assembly


Short Description:  PAYDAY INSTALLMENT LOAN FEES

House Sponsors
Rep. Lou Lang and C.D. Davidsmeyer

Senate Sponsors
(Sen. Terry Link)

Last Action
DateChamber Action
  1/4/2019HousePublic Act . . . . . . . . . 100-1168

Statutes Amended In Order of Appearance
815 ILCS 122/2-10
815 ILCS 122/2-15


Synopsis As Introduced
Amends the Payday Loan Reform Act. Authorizes a lender to charge a borrower for the verification that the proposed loan agreement is permissible: a fee not to exceed $1 for a payday loan or a fee not to exceed $1 for each month that a balance is scheduled to be outstanding on an installment payday loan (rather than a fee not to exceed $1). Authorizes a certified consumer reporting service to charge the following verification fees upon a loan being made or entered into a certified database: a fee not to exceed $1 for a payday loan or a fee not to exceed $1 for each month that a balance is scheduled to be outstanding on an installment payday loan (rather than a fee not to exceed $1). Effective immediately.

House Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes: (1) authorizes a lender to charge a borrower a fee not to exceed $3 to verify an installment payday loan (rather than a fee not to exceed $1 for each month that a balance is scheduled to be outstanding on an installment payday loan); and (2) authorizes a certified consumer reporting service to charge a fee not to exceed $3 to verify an installment payday loan (rather than a fee not to exceed $1 for each month that a balance is scheduled to be outstanding on an installment payday loan). Removes the effective date from the bill.

House Floor Amendment No. 2
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes: (1) authorizes a lender after July 1, 2020 to charge a borrower a fee not to exceed $3 to verify an installment payday loan (rather than a fee not to exceed $1 for each month that a balance is scheduled to be outstanding on an installment payday loan); and (2) authorizes a certified consumer reporting service after July 1, 2020 to charge a fee not to exceed $3 to verify an installment payday loan (rather than a fee not to exceed $1 for each month that a balance is scheduled to be outstanding on an installment payday loan). Removes the effective date from the bill.

Actions 
DateChamber Action
  2/14/2018HouseFiled with the Clerk by Rep. Lou Lang
  2/14/2018HouseFirst Reading
  2/14/2018HouseReferred to Rules Committee
  2/21/2018HouseAssigned to Financial Institutions Committee
  4/4/2018HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Lou Lang
  4/4/2018HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  4/9/2018HouseHouse Committee Amendment No. 1 Rules Refers to Financial Institutions Committee
  4/9/2018HouseHouse Committee Amendment No. 1 Adopted in Financial Institutions Committee; by Voice Vote
  4/9/2018HouseDo Pass as Amended / Short Debate Financial Institutions Committee; 009-000-000
  4/10/2018HousePlaced on Calendar 2nd Reading - Short Debate
  4/19/2018HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Lou Lang
  4/19/2018HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  4/23/2018HouseHouse Floor Amendment No. 2 Rules Refers to Financial Institutions Committee
  4/24/2018HouseHouse Floor Amendment No. 2 Recommends Be Adopted Financial Institutions Committee; 008-000-000
  4/25/2018HouseSecond Reading - Short Debate
  4/25/2018HouseHouse Floor Amendment No. 2 Adopted
  4/25/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/26/2018HousePlaced on Calendar - Consideration Postponed
  4/26/2018HouseThird Reading - Consideration Postponed
  4/27/2018HouseRule 19(a) / Re-referred to Rules Committee
  5/14/2018HouseApproved for Consideration Rules Committee; 004-000-000
  5/14/2018HousePlaced on Calendar - Consideration Postponed
  5/14/2018HouseThird Reading - Consideration Postponed
  5/14/2018HouseFinal Action Deadline Extended-9(b) May 25, 2018
  5/18/2018HouseAdded Co-Sponsor Rep. C.D. Davidsmeyer
  5/25/2018HouseFinal Action Deadline Extended-9(b) May 31, 2018
  5/30/2018HousePlaced on Calendar Order of 3rd Reading - Short Debate
  5/30/2018HouseThird Reading - Short Debate - Passed 072-043-000
  5/30/2018SenateArrive in Senate
  5/30/2018SenatePlaced on Calendar Order of First Reading
  5/30/2018SenateChief Senate Sponsor Sen. Terry Link
  5/30/2018SenateFirst Reading
  5/30/2018SenateReferred to Assignments
  11/7/2018SenateAssigned to Judiciary
  11/14/2018SenateDo Pass Judiciary; 010-000-000
  11/14/2018SenatePlaced on Calendar Order of 2nd Reading
  11/14/2018SenateSecond Reading
  11/14/2018SenatePlaced on Calendar Order of 3rd Reading November 15, 2018
  11/28/2018SenateThird Reading - Passed; 045-003-000
  11/28/2018HousePassed Both Houses
  12/27/2018HouseSent to the Governor
  1/4/2019HouseGovernor Approved
  1/4/2019HouseEffective Date June 1, 2019
  1/4/2019HousePublic Act . . . . . . . . . 100-1168

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