Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

Illinois Compiled Statutes

 ILCS Listing   Public Acts  Search   Guide   Disclaimer

Information maintained by the Legislative Reference Bureau
Updating the database of the Illinois Compiled Statutes (ILCS) is an ongoing process. Recent laws may not yet be included in the ILCS database, but they are found on this site as Public Acts soon after they become law. For information concerning the relationship between statutes and Public Acts, refer to the Guide.

Because the statute database is maintained primarily for legislative drafting purposes, statutory changes are sometimes included in the statute database before they take effect. If the source note at the end of a Section of the statutes includes a Public Act that has not yet taken effect, the version of the law that is currently in effect may have already been removed from the database and you should refer to that Public Act to see the changes made to the current law.

815 ILCS 177/10

    (815 ILCS 177/10)
    Sec. 10. Disclosure requirements. At the time a consumer applies for a refund anticipation loan or check, a facilitator shall disclose to the consumer on a document that is separate from the application:
        (1) the fee for the refund anticipation loan or
    
refund anticipation check;
        (1.5) for refund anticipation loans, disclosure of
    
the refund anticipation loan interest rate. The refund anticipation loan interest rate shall be calculated as set forth in Section 5;
        (2) the estimated fee for preparing and
    
electronically filing a tax return;
        (2.5) for refund anticipation loans, the total cost
    
to the consumer for utilizing a refund anticipation loan;
        (3) for refund anticipation loans, the estimated date
    
that the loan proceeds will be paid to the consumer if the loan is approved;
        (4) for refund anticipation loans, that the consumer
    
is responsible for repayment of the loan and related fees in the event the tax refund is not paid or not paid in full; and
        (5) for refund anticipation loans, the availability
    
of electronic filing for the income tax return of the consumer and the average time announced by the federal Internal Revenue Service within which the consumer can expect to receive a refund if the consumer's return is filed electronically and the consumer does not obtain a refund anticipation loan.
(Source: P.A. 97-849, eff. 1-1-13.)