SECURITIES SUIT TIME LIMIT House SponsorsRep. Mike Smiddy-Jack D. Franks-Keith Farnham-Carol A. Sente and Emanuel Chris Welch Senate Sponsors(Sen. Steve Stadelman and Ira I. Silverstein) 8/5/2013HousePublic Act . . . . . . . . . 98-0174 815 ILCS 5/13from Ch. 121 1/2, par. 137.13 Amends language in the Illinois Securities Law of 1953 providing that the 3-year period for seeking specified relief under the Act begins to run on the earlier of the date the party bringing the action has actual knowledge of the alleged violation or the date the party bringing the action has notice of facts which in the exercise of reasonable diligence would lead to actual knowledge of the alleged violation. Deletes language providing that the period of limitation may not be extended more than 2 years beyond the expiration of the 3-year period. Effective immediately. 2/26/2013HouseFiled with the Clerk by Rep. Mike Smiddy 2/26/2013HouseFirst Reading 2/26/2013HouseReferred to Rules Committee 3/4/2013HouseAssigned to State Government Administration Committee 3/13/2013HouseDo Pass / Short Debate State Government Administration Committee; 018-002-000 3/14/2013HousePlaced on Calendar 2nd Reading - Short Debate 3/15/2013HouseSecond Reading - Short Debate 3/15/2013HousePlaced on Calendar Order of 3rd Reading - Short Debate 4/3/2013HouseAdded Co-Sponsor Rep. Emanuel Chris Welch 4/15/2013HouseThird Reading - Short Debate - Passed 093-021-001 4/15/2013HouseAdded Chief Co-Sponsor Rep. Jack D. Franks 4/15/2013HouseAdded Chief Co-Sponsor Rep. Keith Farnham 4/15/2013HouseAdded Chief Co-Sponsor Rep. Carol A. Sente 4/16/2013SenateArrive in Senate 4/16/2013SenatePlaced on Calendar Order of First Reading April 17, 2013 4/30/2013SenateChief Senate Sponsor Sen. Steve Stadelman 4/30/2013SenateAdded as Alternate Co-Sponsor Sen. Ira I. Silverstein 5/1/2013SenateFirst Reading 5/1/2013SenateReferred to Assignments 5/1/2013SenateAssigned to Judiciary 5/8/2013SenateDo Pass Judiciary; 012-000-000 5/8/2013SenatePlaced on Calendar Order of 2nd Reading May 9, 2013 5/21/2013SenateSecond Reading 5/21/2013SenatePlaced on Calendar Order of 3rd Reading May 22, 2013 5/22/2013SenateThird Reading - Passed; 051-007-000 5/22/2013HousePassed Both Houses 6/19/2013HouseSent to the Governor 8/5/2013HouseGovernor Approved 8/5/2013HouseEffective Date August 5, 2013 8/5/2013HousePublic Act . . . . . . . . . 98-0174