Synopsis of Bill as introduced:
Amends the Consumer Installment Loan Act and the Illinois
Financial Services Development Act. Makes technical changes and adds
FISCAL NOTE, H-AM 1 (Department of Financial Institutions)
The fiscal impact on the Department would be $484,161 for 7
additional employees and their travel and office equipment.
FISCAL NOTE, H-AM 1 (Office of Banks and Real Estate)
The fiscal impact on the Office of Banks and Real Estate would
be $250,000 for a one-time transfer among funds and $400,000
for annual operating costs associated with 7 additional staff.
HOUSING AFFORDABILITY NOTE
There will be no fiscal effect on the cost of constructing,
purchasing, owning, or selling a single family residence.
FISCAL NOTE, H-AM 2 (Department of Financial Institutions)
The cost to the Department for rulemaking for hearings would
not exceed $10,000.
HOUSE AMENDMENT NO. 2.
Deletes reference to:
205 ILCS 670/8
205 ILCS 675/6
Adds reference to:
205 ILCS 660/13 from Ch. 17, par. 5231
205 ILCS 670/22 from Ch. 17, par. 5428
Replaces everything after the enacting clause. Provides that the
Department of Financial Institutions has the power under the Sales
Finance Agency Act and the Consumer Installment Loan Act to promulgate
rules that are necessary and appropriate for the protection of
consumers. Effective immediately.
Last action on Bill: PUBLIC ACT.............................. 91-0698
Last action date: 00-05-06
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status