FUNERAL/BURIAL FUNDS-GUARANTEE Senate SponsorsSen. Pamela J. Althoff 1/13/2009SenateSession Sine Die 225 ILCS 45/1afrom Ch. 111 1/2, par. 73.101a225 ILCS 45/1a-1225 ILCS 45/1a-2 new225 ILCS 45/1bfrom Ch. 111 1/2, par. 73.101b30 ILCS 105/5.708 newAmends the Illinois Funeral or Burial Funds Act. Removes references to finance charges from the definition of "sales proceeds" and "purchase price". Allows a purchaser to cancel a pre-need contract within 30 days after all parties have signed the contract and receive 100% of all payments made under the contract. Creates the Pre-need Funeral Contract Guarantee Fund, into which $5 from each pre-need contract sold by a licensee under the Act shall be deposited. Provides that the Fund shall be used by the Comptroller to pay restitution to purchasers who are unable to receive the benefits of a pre-need contract or to receive the funds due by reason of cancellation of a pre-need contract. Removes an exception that allows a trustee to be the seller or provider of funeral services or merchandise. Makes other changes. Amends the State Finance Act to establish the new Fund. 2/14/2008SenateFiled with Secretary by Sen. Pamela J. Althoff 2/14/2008SenateFirst Reading 2/14/2008SenateReferred to Rules 3/5/2008SenateAssigned to State Government and Veterans Affairs 3/13/2008SenatePostponed - State Government and Veterans Affairs 3/14/2008SenateRule 3-9(a) / Re-referred to Rules 1/13/2009SenateSession Sine Die