HB1628 EngrossedLRB103 26210 LNS 52569 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Landlord and Tenant Act is amended by
5adding Section 4 as follows:
 
6    (765 ILCS 705/4 new)
7    Sec. 4. Payment by electronic funds transfer.
8    (a) As used in this Section, "electronic funds transfer"
9means a transfer of funds, other than a transaction originated
10by check, draft, or similar paper instrument, that is
11initiated through an electronic terminal, telephone, computer,
12or magnetic tape for the purpose of ordering, instructing, or
13authorizing a financial institution to debit or credit a
14consumer's account, including, but not limited to, through the
15use of an automated clearing house system.
16    (b) A landlord shall not require a tenant or prospective
17tenant to remit any amount due to the landlord under a
18residential lease, renewal, or extension agreement by means of
19an electronic funds transfer, including, but not limited to,
20an electronic funds transfer system that automatically
21transfers funds on a regular, periodic, and recurring basis.
22    (c) Beginning 90 days after the effective date of this
23amendatory Act of the 103rd General Assembly, a landlord who

 

 

HB1628 Engrossed- 2 -LRB103 26210 LNS 52569 b

1violates this Section is guilty of an unlawful practice under
2the Consumer Fraud and Deceptive Business Practices Act.
3    (d) This Section applies to leases or agreements executed
4after the effective date of this amendatory Act of the 103rd
5General Assembly.