91st General Assembly
Summary of HB0555
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House Sponsors:

Senate Sponsors:

Short description: 
MOTOR VEH FINANCING AFFILIATE                                              

Synopsis of Bill as introduced:
        Amends the Illinois Vehicle Code. Defines "motor vehicle fi-           
   nancing affiliate" as a business that purchases new or used motor           
   vehicles on behalf of a dealer or group of dealers and then sells the       
   motor vehicles to the dealer or group of dealers and that meets other       
   criteria. Provides that a motor vehicle financing affiliate must be         
   licensed by the Secretary of State and sets forth licensing require-        
   ments and procedures. Amends the Motor Vehicle Franchise Act to pro-        
   vide that a motor vehicle financing affiliate and a franchisee shall        
   be treated the same for the purposes of the Act.                            
          FISCAL NOTE (Secretary of State)                                     
          The fiscal impact would be $15,000.                                  
          FISCAL NOTE, H-AM 1 (Secretary of State)                             
          Same as previous note.                                               
        HOUSE AMENDMENT NO. 1.                                                 
        Makes grammatical and technical changes.                               
Last action on Bill: PUBLIC ACT.............................. 91-0415

   Last action date: 99-08-06

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   1     SENATE -   0


 Full Text  Bill Status