IL SB3410 | 2013-2014 | 98th General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 13 2015 - 100% progression
Action: 2015-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Payday Loan Reform Act. Authorizes a municipality to limit the number of licensees located in the municipality beginning January 1, 2015. Provides that the limit established by a municipality may be no less than 5. Provides for the Department of Financial and Professional Regulation to randomly nonrenew licenses if the renewed license would result in a number of licenses in excess of the municipal limit. Reduces maximum permissible finance charges.
Title
PAYDAY LOAN-MUNICIPAL LIMITS
Sponsors
| Sen. Andy Manar [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2015-01-13 | Senate | Session Sine Die |
| 2014-03-28 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2014-03-13 | Senate | Assigned to Financial Institutions |
| 2014-02-14 | Senate | Referred to Assignments |
| 2014-02-14 | Senate | First Reading |
| 2014-02-14 | Senate | Filed with Secretary by Sen. Andy Manar |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 815 | 122 | 2-5 | Amended Code | Citation Text |
| 815 | 122 | 3-5 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3410&GAID=12&DocTypeID=SB&SessionID=85&GA=98 |
| Text | https://www.ilga.gov/legislation/98/SB/09800SB3410.htm |
