Bill Text: IL HB0073 | 2023-2024 | 103rd General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Amends the Consumer Legal Funding Act. Provides that the provisions of the Act do not apply to consumer legal funding if (i) the amount of funding is greater than $500,000 and (ii) the consumer does not use or intend to use any of the proceeds for personal, family, or household expenses. Makes other changes.

Spectrum: Partisan Bill (Democrat 3-0)

Status: (Engrossed) 2023-06-26 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [HB0073 Detail]

Download: Illinois-2023-HB0073-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB0073 Introduced , by Rep. Emanuel Chris Welch SYNOPSIS AS INTRODUCED:
815 ILCS 120/1 from Ch. 17, par. 851
Amends the Illinois Fairness in Lending Act. Makes a technical change in a Section concerning the short title.
LRB103 03589 SPS 48595 b
A BILL FOR
HB0073 LRB103 03589 SPS 48595 b
AN ACT concerning business.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Fairness in Lending Act is amended
by changing Section 1 as follows:
(815 ILCS 120/1) (from Ch. 17, par. 851)
Sec. 1. This Act shall be known and and may be cited as the
"Illinois Fairness in Lending Act".
(Source: P.A. 81-1391.)